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Shock Markets--Global Tickers Plunge

NEW YORK CITY-As the markets plunge on news of the economy being in a recession since December of last year, REIT stocks feel the pinch.

By remstaff | Globe Street | | Updated on December 02, 2008

NEW YORK CITY-Stock markets around the world plunged yesterday as the National Bureau of Economic Research said the economy has been suffering a recession since December of last year. The Dow took an especially tough hit, losing 679.95 points to close at 8149.09, according to this AP article on the Washington Post .

REIT stocks were not immune to the dive. Simon Property Group opened at nearly $46 per share and plunged to a last trade of $38. ProLogis slipped from $3.90 to $2.57. SL Green Realty Corp. opened at $18.45, finishing the day at $15.33.

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