Posted on 10/06/2008 7:33:49 AM PDT by AngieGal
Dow slides below 10,000 for first time in nearly 4 years.
U.S. stocks tumbled on Monday, sending the Dow industrials below the 10,000 mark for the first time in nearly four years, as last week's $700 billion bailout package and government interventions in Europe over the weekend failed to soothe nervousness in global markets. Europe didn't reach an accord on bailouts over the weekend, and instead each country is handling the fallouts on their own. Germany backed its retail deposits, following similar moves by Ireland and Greece. Holland nationalized the Dutch operations of Fortis, and a new 50 billion euro financing package was reached for Germany's Hypo Real Estate.
"With global equity markets selling off today, and the developments which followed the weekend European crisis meeting, much nervousness abounds," said Jennifer Lee, analyst at BMO Capital Markets.
(Excerpt) Read more at marketwatch.com ...
“We’re gonna need a bigger bailout.”
Deadcat bounce at 539... flirting with trying to stay open for the day?
Saturday and Sunday night FOX news ran a special for an hour about the situation and how it snowballed into what we are seeing.
If everyone in America saw that show the election would be a slam dunk for Republicans.
sw
About the only thing that could have possibly elected a Marxist extremist like Hussein--is an economic calamity--which is precisely what appears to be occurring.
Yup.
Let’s say there are 100 million homes, so there are about 5% (let’s be generous) or 5 million mortgages in jeopardy. Let’s say the average loan is $400K, that is $2 trillion at risk
Yup.
Bravo, you nailed it!
and to think one Prez candidate is for "Change" and the other is for "Reform", yet they both voted for the bail out!
What does that make them?????
*gulp*
But this bailout was supposed to keep the world safe and the sun shining bright! Don’t tell me that we are stuck with a huge tax bill and the economy still collapses!
I am fed the heck up!
Obama up
Stocks down
McCain up
Stocks up
I agree, it should have been put on the FOX network stations instead of FOX news. It was very informative and put the blame square where it belongs, it exposed Dodd, Shumer and Franks like no one else ever will and it was all the truth.
I think it boils down to the fact that, no matter what the U.S. does (short of giving her sovereignty over to the UN) makes the rest of the world angry.
Seems like it all boils down to envy, but that's just my NSHO.
Yeah, a really great bailout idea. Now we are in deeper debt AND sinking stocks. I’m so ‘pleased’.
‘Great Bailout’ Ping
Two factors weighing down the market:
1. The European financial crisis.
2. The market is finally beginning to price in an Obama win. Polls show him solidly up, electoral college maps like Rove’s show him over the 270 he needs.
The sheeple buy the MSM’s line about a weak economy helping the Dems on the fraudulent premise that “everyone knows” Dems’ policies tend to a stronger economy, but the smart money in the markets understand perfectly well that Obama’s economic philosophy and policies combined with a Reid/Pelosi congress are economy-killers.
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