Dow futures tumble as Wall Street preps for meltdown

CnbC ^ | 8/24/2015 | Jenny Cosgrove

[EBH]

U.S. stock index futures screamed lower, with Dow futures (Chicago Board of Trade: @DJ.1) tumbling more than 400 points, as fears surrounding the health of China's economy multiplied.

These concerns saw the benchmark Shanghai Composite (Shanghai Stock Exchange: .SSEC) index notch up its biggest one-day percentage loss since 2007 on Monday, closing down 8.5 percent .

Panic spread to European markets, with the pan-European FTSEurofirst 300 (FTSE International: .FTEU3) as much as 3 percent in early London trading. All major bourses were off a similar amount. The index has shed over $1 trillion in market value in August so far.

[mware]

Me too, lost 800 dollars in the last two days. I have retired but I was not planning on using the money I invested in the stock market. Sure hope my TSA is safe though.

[Chgogal]

Chevron down 43%. Energy stocks are looking good.

Apple was at 91-92 now at 101

[Jane Long]

The jolts don’t seem to be holding...for now.

[headstamp 2]

I’ll do it only if Cramer sez so.

[AU72]

Just remember, not a loss until sold

[Old Sarge]

And may the odds be ever in your favor...

[dennisw]

-452.22 / -2.75%

big deal.... that’s just a hiccup on the to 0bamaVille

[huldah1776]

Why not watch Soros? LOL

[Old Sarge]

H/T to our FRiend EBH for starting the thread.

Ping your respective lists, if you hold them.

It begins.

For thus has the Lord said unto me:
“Go, set a watchman, Let him declare what he sees.”
Isaiah 21:6

The Watchman Ping List - FReepmail Old Sarge for details!

[MustKnowHistory]

Hearing rumors that The big O is going to speak to this today. Is this true? Someone tell him to be quiet, he will only make it worse.

[Carry_Okie]

The market has been propped up by easy money for years. Only Ron Paul and Governor Palin has talked about this. So when the cap hits the fan, there’ll be more calls for a bailout and Wall Street will be demonized.

Don't they deserve it? They've been financing these conditions from K Street for decades.

[goodnesswins]

When O speaks ....in the “woods,” does anyone hear him?

[catfish1957]

Remember, there are traders with US$4 TRILLION in cash-equivalent liquid assets waiting on the sidelines to jump in as bargain hunters. You could see that happen when the DJIA drops to 12,000.

Including myself. Right now there are nine equities on my radar screen that I waiting for them to reach the price target i want. Unfortunately these have rebounded today, so the wait continues.

[John W]

He would only speak to make sure everyone knew it wasn’t his fault.

[xp38]

You invested in the Transportation Security Administration? I know acronyms overlap sometimes.

[SVTCobra03]

Just wait until next month. You can buy those stocks for pennies.

[blam]

Here Comes The Plunge Protection Team

[Jane Long]

http://www.zerohedge.com/news/2015-08-24/meanwhile-beneath-surface-market-liquidity-worse-during-flash-crash

[catfish1957]

Just wait until next month. You can buy those stocks for pennies

Why...are you expecting an asteroid?

[struggle]

They failed apparently. Dow’s back down near -500 and looks to drop legs as the day goes on.

It’s the Obamacononmy.