Dow falls more than 600 points; markets in free-fall

msn.com ^ | 10/09-2008 | By Charley Blaine and Elizabeth Strott

[Red Badger]

The Dow Jones industrials fell under 9,000 this afternoon for the first time since the summer of 2003 as investor confidence that markets would stabilize appeared to collapse. At 3:40 p.m. ET, the blue chips were down 641 points, or 6.9%, to 8,617. The Standard & Poor's 500 Index was off 74 points, or 7.5% to 911. The Nasdaq Composite Index was down 94 points, or 5.4%, to 1,646. The S&P fell under a closely monitored support level of 960. A support level is important because it is supposed to trigger new buying. At those levels, the crash of 2008 has left the Dow 39% below its record close of 14,164.53 and the S&P 500 down 41% from its record close of 1,565.15. Ironically, both records were set exactly one year ago today.

[Red Badger]

My 401(k) is dying and the dems are to blame!..............

Dow -598.55 down-6.47% 8,659.55

[CatOwner]

Bond funds are likely to drop about 2% today. I’ve never seen such a hit on what is supposed to be a “conservative” investment.

[FarRightFanatic]

OMG.....

[conservativepoet]

A Democrat scandal if I’ve ever seen one.

[nmh]

My 401(k) is dying and the dems are to blame!..............

That is true but it will come up again IF

those dam Dems aren't controlling everything.

GET HOT on trouncing Obama and his criminal friends. Tell ANYONE who will listen - the TRUTH about what happened in this “crisis”.

[tbpiper]

My 401(k) is dying and the dems are to blame!..............

McCain backed you up publicly today in Wisconsin.

[rabscuttle385]

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[paul544]

Hell, we might as well demand our $700,000,000,000 back since it isn’t helping at all.

[Freedom_no_exceptions]

Parents’ basement...been a while since I lived in you. This sucks.

[rightinthemiddle]

This is getting kinda silly.

At least the panic phase is happening quickly.

[nmh]

In normal times ... it is.

[mass55th]

Do I hear 600?

[OCCASparky]

My 401(k) is now a 201(k).

[Loyolas Mattman]

Aren’t you glad we dropped a trillion bucks to keep confidence in the markets?

[gun_supporter]

I was trying to remain optimistic over the past few weeks, but now it is getting difficult.

[AmericaUnited]

The markets are clearly panicking due to an Obama’s anti-business SOCIALIST policies!

[Sgt_Schultze]

Traders are pricing the market to an Obama administration.

[Mr. Mojo]

Buying opportunities galore.

[Canedawg]

“My 401(k) is dying...”

Misery loves company.

:-((

[Berlin_Freeper]

Obama is up in the polls and stocks keep dropping.