Stocks plunge amid Egypt unrest

CNNMoney ^ | 1/28/2011 | Hibah Yousuf

[Signalman]

NEW YORK (CNNMoney) -- U.S. stocks plunged Friday, with the three major index logging the worst daily drops in months, as investors grew nervous about political unrest in Egypt.

The Dow Jones industrial average (INDU) lost 166 points, or 1.4%, the biggest daily drop since Nov. 16, 2010. A 3.9% drop in Microsoft's (MSFT, Fortune 500) stock led the blue chips lower despite the company posting record sales of $20 billion. The deep losses also ended the Dow's 8-week winning streak. The index slipped 0.4% during the week.

[Walkingfeather]

Unrest in egypt causes our stocks to tumble? Dont think so.

[RC one]

metals seemed to respond favorably to the chaos.

[9YearLurker]

Uncertainty in the oil supply would, I’d imagine, be a concern.

[Ev Reeman]

The price of oil is going to skyrocket. Count on it.

[familyop]

Except for oil futures, of course. Those appear to be up considerably.

[Conservative Vermont Vet]

And what does our CLUELESS, Dear Leader do? He advises Mubarak to "allow for freedom" and pull his troops back (which of course will probably lead to his overthrow) and then.....it's Katy bar the door, because if anyone does not think Muslim Brotherhood/ISLAMO-FASCIST (and especially Iran) is not behind this, they are in for a rude awakening.

Look for $4 (maybe $5 or even $6) a gal real soon, and if the Suez get's closed, which is a real possibility, then all bets are off.

Yep, Obama=Carter and Carter=Obama and it remains to be seen which is (will be) the WORST President ever.

[Thunder90]

Israel and the US are going to go in and make sure that Wafd and the opposition Egyptians are able to hold off the Islamic Brotherhood. Count on it.

[Nervous Tick]

>> Unrest in egypt causes our stocks to tumble? Dont think so.

You know those loveable financio-journos: they have GOT to give a cause-and-effect reason for whatever whichaway the market moves.

I just find it hilarious how Monday the market will do something totally different and Friday’s thoughtful analysis and reasoning goes right out the window in favor of the NEW “reason du jour”!

[al baby]

I will wait till i see what Cramer has to say

[The Comedian]

Oil-and-gold-are-buy-and-hold ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[Nervous Tick]

>> I will wait till i see what Cramer has to say

LOL! Hell, I just wrote Cramer a check and I let him manage all my money.

You wouldn’t BELIEVE how much it has cut down on my income taxes...

[DuncanWaring]

I heard on the radio today that oil was up “because of strong economic growth in the US”.

Distressingly, there are people out there who will believe that one.

[FatherFig1o155]

Exactly.

It’s more like some rich investor had to make a payment on his yacht and sold a ton of stock, which scared all the other investors and made them sell their stock, too.

It’s sick.

[Logical me]

When oil hits 200 dollars a barrel and gas at the pump his 5 dollars a gallon this Country will come unglued. King Obama better find another Country to hide in because of his constant destruction to our drilling for oil in our territory.

[blam]

"Unrest in egypt causes our stocks to tumble? Dont think so.

Don't Blame Egypt for Today's Sell-Off

While analysts point to the current crisis in Egypt as the culprit in today's decline, there have been growing signs that the latest leg of the rally was nearing exhaustion.

[The Comedian]

I heard on the radio today that oil was up “because of strong economic growth in the US”.

Distressingly, there are people out there who will believe that one.

Yeah, but most of them work for CNBC.

Today is a good day to die.
I didn't say for whom.

[B4Ranch]

>>I heard on the radio today that oil was up “because of strong economic growth in the US”.<<

>Distressingly, there are people out there who will believe that one.<

Most distressful is that there is one man in the White House who will believe that one and that he is the reason for it.<<

[Free Vulcan]

Stocks were overdue for a down day.

[Free Vulcan]

Stocks were overdue for a down day.