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Forget the rally - stocks pummeled
CNN ^ | 3/5/09 | staff

Posted on 03/05/2009 9:40:35 AM PST by pissant

NEW YORK (CNNMoney.com) -- Stocks fell hard Thursday after a litany of grim developments: GM said its survival is in doubt, bank shares took a beating and Citigroup broke the buck.

Adding to the global woes: China defied expectations by failing to boost its economic stimulus program.

The Dow Jones industrial average (INDU) fell 196 points, or 2.9%, over two hours into the session. Earlier, the Dow fell as low as 6654.59, the lowest point since April 22, 1997.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: bho44; bhobudget; bhodjia; first100days; larrysinclairslover; marxistquisling; obama; obamanomics
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Comment #21 Removed by Moderator

To: 444Flyer
Obama says “Buy”... Investors say “Bye

Sorry, but that's too good to pass up. Can I use it for a tagline?

22 posted on 03/05/2009 9:59:30 AM PST by bcsco (Illinois politicians should be read their Miranda rights when sworn in to office...)
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To: pissant

His long time buddy CNBC Cramer tried to predict a long term rally yesterday, idiot!


23 posted on 03/05/2009 10:01:19 AM PST by sickoflibs (Keynesian Eco 101 : "If you won't spend your money WE WILL, and your kid's too!")
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To: RobRoy; RockinRight
You are not alone.

What really puzzles me is why, at this particularly vulnerable point, we have not seen some human bombs going off at a bunch of Malls simultaneously. I think this is almost inevitable and, if any are captured, O and Holder will provide them with Counsel and 5th Amend. protections.

The World is definitely dangerous, especially since it has been literally turned upside down over the past year.

24 posted on 03/05/2009 10:02:38 AM PST by TCats
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To: sickoflibs

Cramer becomes a bigger buffoon by the minute!


25 posted on 03/05/2009 10:03:43 AM PST by AngelesCrestHighway
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To: Nervous Tick

Yesterday?

probably people buying after the “I will buy when it closes below 7000” self prophecy happened.


26 posted on 03/05/2009 10:04:33 AM PST by Robert A Cook PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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To: sickoflibs
Cramer is a Clown.

He reminds me of J Fred Muggs, the Today Show Chimpanzee, who put a bunch of Brokers to shame by selecting stocks throwing darts at a list from the WSJ. His 'Picks' beat them handily!

The one minute of possible good information requires you to wade through an hour of his antics, gimmicks and ads. To me, a waste of time - Besides, if you watch it long enough your liable to have a seizure.

27 posted on 03/05/2009 10:06:10 AM PST by TCats
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To: bcsco
“Sorry, but that's too good to pass up. Can I use it for a tagline?”

Absolutely! It's yours.

28 posted on 03/05/2009 10:06:46 AM PST by 444Flyer (Don't beLIEve Obama.............................Never give up, never give in, never give out!)
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To: Evil Slayer

However it plays out, sooner or later, I agree...around 3000. It could happen very fast if everyone heads for the door at the same time....


29 posted on 03/05/2009 10:07:47 AM PST by AngelesCrestHighway
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To: pissant

Meanwhile the party continues in the White House.


30 posted on 03/05/2009 10:09:11 AM PST by MaxMax (RINO=RAT!)
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To: Evil Slayer

I remember the drop in 1987....It happened so fast no one could do anything or move anything.....


31 posted on 03/05/2009 10:09:42 AM PST by AngelesCrestHighway
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To: 444Flyer
Absolutely! It's yours.

Danke! Very much...

32 posted on 03/05/2009 10:11:18 AM PST by bcsco (Obama says “Buy”... Investors say “Bye)
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To: bcsco

Trying to clean up the tagline


33 posted on 03/05/2009 10:12:51 AM PST by bcsco (Obama says "Buy", investors say "Bye")
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To: pissant
Obama still hasn't explained any plan to help the banks . . . he's now holding a WH summit on nationalizing health care . . . and later he'll prop up the unions.

I'm really starting to believe that the collapse of the market IS Obama’s precise plan. He will destroy all wealth (opposition) in America.

34 posted on 03/05/2009 10:13:38 AM PST by Right_in_Virginia
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To: TCats

I think a lot of the initial internal violence will be gangs (mostly black and hispanic) on the left and “disgruntled ‘redneck’ white folk” on the right.

I think the Muslims in this country will be treated like the German American Bund was treated back before WWII.

THEN we will have exploding muslims.


35 posted on 03/05/2009 10:17:33 AM PST by RobRoy
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To: AngelesCrestHighway

That was automation. That kind of drop won’t happen now. At least, not for the same reason.


36 posted on 03/05/2009 10:18:57 AM PST by RobRoy
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To: All

I noticed a sudden spike in the market in the last 15 minutes. Was there an announcement of some sort?


37 posted on 03/05/2009 10:19:55 AM PST by RobRoy
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To: pissant

Is it bad to hope that all of the lefties believed what Obama said and loaded up on stocks the last few days? :D


38 posted on 03/05/2009 10:28:10 AM PST by chris_bdba
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To: bcsco

Welcome!:)


39 posted on 03/05/2009 10:28:44 AM PST by 444Flyer (Don't beLIEve Obama.............................Never give up, never give in, never give out!)
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To: TCats

They say when you’re opponent is hurting himself, stay out of the way. I would think they’d wait til we’re on the brink of recovery.


40 posted on 03/05/2009 10:30:30 AM PST by Huck ("He that lives on hope will die fasting"- Ben Franklin, Poor Richard's Almanac)
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