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Dow Falls 700 as Markets Drown in Recession Fears

Fears the U.S. will sink into a recession slammed head first into Wall Street on Wednesday, sending the Dow plunging to its worst percentage drop since October 1987.

An ugly report on retail sales served as a wake-up call for the markets, reminding Wall Street that even as the ailing credit markets appear to have improved, the economy is still in a precarious state. picked by ImNotBlue 1 year ago

tags Dow stock market roller coaster loss recession

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18	Wingnut

1 year ago

Given the state of the economy lately, was it really that big a surprise to Wall Street to find out people are spending less?

And maybe I'm remembering things wrong, but I thought that when the Dow falls by a certain number of points or a certain percentage, the NY Stock Exchange had safeguards in place to halt trading so that people could take a deep breath and think about what they're doing to the market. What happened to that?

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10	siennabl...

1 year ago

« ImNotBlue :An ugly report on retail sales served as a wake-up call for the markets, reminding Wall Street that even as the ailing credit markets appear to have improved, the economy is still in a precarious state.

Did you say "wake-up call"? Guess what ... the last wake up call happened in 2001, and you overslept because you think you're getting good information from Fox (business) News.

When you're paying 4.00 Amero's (half the dollar value) a gallon, Fox will blame it on democrats, and democrats will blame it on republicans, and you will most likely still be looking for bias in the media.

America has bought into the "Us Versus Them Game" (republicans against democrats) and right now is the pre-game for the "Political Super-bowl" ... the recap should be interesting. One thing's for sure ... one of them will win, while my country loses ... AGAIN

« Wingnut : Given the state of the economy lately, was it really that big a surprise to Wall Street to find out people are spending less?

And maybe I'm remembering things wrong, but I thought that when the Dow falls by a certain number of points or a certain percentage, the NY Stock Exchange had safeguards in place to halt trading so that people could take a deep breath and think about what they're doing to the market. What happened to that?

Wall street is not surprised right now ... the only surprise is coming from ordinary people who have their savings in 401k's and mutual funds .. who don't know what happened to their money because they only get a hint on October 15th that they have lost another 30% of their savings in September.

Every other day new restrictions are being put on wall street by our government ... the last was temporarily banning short selling, which partially expired last week. see also ... short sellling versus naked short selling

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omguy

1 year ago

Rest assured the worst is yet to come.

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