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Stocks plunge in U.S., Dow sinks 318 points
Yahoo News ^ | January 24, 2014 | Chris Nichols

Posted on 01/24/2014 1:19:17 PM PST by John W

Stocks in the U.S. slumped at the end of the week, including a dive of 318 points for the Dow Jones Industrial Average, as traders caved in to worries about global stability and the health of various economies.

Concerns about weak growth in China — a critical market for Western trade — melded with currency drops in countries such as India and Turkey, prompting investors to flee from stocks, which are viewed as riskier than bonds or gold. The S&P 500, a broad measure of the American market, lost 2% to 1,792 Friday, and the Nasdaq Composite slid 2.1% to 4,131. On both the Nasdaq and the New York Stock Exchange, 86% of all stocks declined.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: dow; nyse; stockmarket
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To: napscoordinator

we would all be laughing if the DOW really takes a dive mon/tues, then headlines about the collapse of Obama-Care, and hopefully another event that embarrasses u-no-who.....this would make for the “Ultimate Lucy U Have Some Esplaining To Do” come Tuesday Night in front of 250 million people !!!


41 posted on 01/24/2014 2:30:51 PM PST by Cruz_West_Paul2016
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To: John W

Only 7,000 more points to go before the market corrects to its actual value.


42 posted on 01/24/2014 2:45:10 PM PST by SkyPilot
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To: diverteach

“The real question is what took them so long to figure it out?”

Who is “them”? The market went down a few percent over the last few days after growing 120% over the last 5 years. Figure out what?


43 posted on 01/24/2014 2:48:33 PM PST by plain talk
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To: rightwingcrazy
The real question is if (or when) the Fed will come to the rescue.

So $85B per month of QE3 doesn't count?

44 posted on 01/24/2014 2:57:37 PM PST by Senator_Blutarski
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To: Senator_Blutarski

“So $85B per month of QE3 doesn’t count?”

Chump change if they want to get the job done. It’s not cheap to prop up the entire stock market all by your lonesome.


45 posted on 01/24/2014 3:06:03 PM PST by rightwingcrazy
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To: John W

Everyone is far to positive on the markets. It’s almost unanimous that you hear people say it is going up again.

A sure sign we are about to fall bigtime.


46 posted on 01/24/2014 3:37:10 PM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

There is much whistling past the graveyard, even here.


47 posted on 01/24/2014 3:39:52 PM PST by John W (Viva Cristo Rey!)
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To: RightGeek

And remember, Bill Clinton said he spends two hours everyday thinking about the economy.


48 posted on 01/24/2014 4:05:23 PM PST by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: traderrob6

538 for the week; 3.2%


49 posted on 01/24/2014 4:32:43 PM PST by newbie 10-21-00
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To: SkyPilot

At 8,800 the DJIA would have a P/E under nine. Got ya buddy!


50 posted on 01/24/2014 4:37:16 PM PST by newbie 10-21-00
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To: Leaning Right
don't tell Reggie that. :O

51 posted on 01/24/2014 4:51:22 PM PST by skinkinthegrass (The end move in politics is always to pick up a gun..0'Caligula / 0'Reid / 0'Pelosi)
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To: John W
It's time to refuel the helicopter and dump some more borrowed trillions into QE 3, or 4 , or 5,... or whatever the hell one we are at now.

It's not just the Chinese depending on us to keep them awash in cash - it is our Gibsmedats whose SNAP/EBT cards and assorted bling may be at risk!

If the music stops now we are way, way, way short of chairs.

I think the Mexicans have an applicable phrase for it, "Plata O Plomo (Silver or Lead)...?"

52 posted on 01/24/2014 5:21:31 PM PST by Gritty (Nobody wants to hear about American exceptionalism when the issue is American ineffectualism-MSteyn)
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To: All

From an AP story-—

Investors are dumping risky assets like stocks and currencies in countries with troubled governments. They are buying safer ones like bonds and the Japanese yen.


53 posted on 01/24/2014 5:52:31 PM PST by John W (Viva Cristo Rey!)
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To: John W
"Concerns about weak growth in China"

Yeah, sure. According to our Ministry of Truth sponsored by the most influential constituents (along with gobs of the usual social pathologies), China's been collapsing since 2007. [Manufacturing is only expected to increase by 7% there during the coming year, and manufacturing there has increased greatly every year for quite a few years.]

Bipartisan liars.


54 posted on 01/24/2014 5:59:09 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: Leaning Right
Obama doesn't know how to point it, let alone fire it.


55 posted on 01/24/2014 6:18:07 PM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: John W
Catch the Jazz Poet of the Mercantile Exchange explaining it all to you on video.
56 posted on 01/24/2014 6:18:50 PM PST by firebrand
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To: firebrand

BTW, the video has a little stutter in it. It starts over from the beginning a short way in. But be patient.


57 posted on 01/24/2014 6:31:21 PM PST by firebrand
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To: rightwingcrazy

How will they come to the rescue? Stop the tapering? Buy more T-bills?


58 posted on 01/24/2014 7:58:31 PM PST by kabar
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To: familyop
There have always been questions about China's banking system and the accuracy of the data they provide.

A China debt crisis in 2014?

Here’s something to watch in 2014: China’s debt. Although the odds of a full-blown financial crisis are slim, they’re not non-existent. The flash point is the burgeoning debt of Chinese localities to finance major infrastructure — roads, bridges, water and sewer systems, subways, telecommunications networks — as well as housing and commercial real estate developments. The fear is that revenues from these projects won’t be adequate to repay the loans, resulting in defaults that undermine confidence and trigger bank runs. This would surely rattle the broader global economy.

Fanning the fears was an official report, released Dec. 30, showing that the debt of localities had jumped 67 percent since the end of 2010 to 17.9 trillion renminbi (about $3 trillion) in June 2013. In a separate report to clients, economist Tao Wang of UBS said the debt level was “manageable” but its rapid rise was “alarming.” Local debt now equals about 33 percent of China’s economy (gross domestic product), up from about 10 percent in 2008 and almost nothing in 1997.

Still, the danger of a debt crisis, however remote, highlights China’s largest economic problem. It is, as Lardy and others have emphasized, to shift the economy from excess investment spending toward more consumption. Too much investment threatens gluts of factories, housing and commercial offices. China’s investment spending, Lardy notes, accounts for nearly half the economy, far more than in other major countries. A better-balanced economy would be safer for China — and the rest of the world.

59 posted on 01/24/2014 8:07:15 PM PST by kabar
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To: Lurkina.n.Learnin

Ain’t that so brother.


60 posted on 01/24/2014 8:09:03 PM PST by Usagi_yo
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