Panic on Wall Street: Dow Falls Below 9K

Fox Business ^ | October 09, 2008 | Matt Egan

[AngieGal]

The Dow celebrated the one-year anniversary of its all-time high by plummeting below 9000 for the first time since August 2003 and ending in the red for the seventh straight day.

The worst financial crisis since the Great Depression continues to engulf Wall Street, carving out 5,000 points from the index, including 2,000 points over the past seven days alone.

[Mr. Mojo]

Well below. (It’s @ 8562 now)

[theDentist]

Thanks again Bush, Congress! And especially you Bawney Fwank and Chris “Special Treatment Homeloan” Dodd.

[Matchett-PI]

I’m gonna start nibbling on stocks again when the Dow falls to approximately 8000 - 8500.

[austinaero]

Obama is ahead in the polls, I’d panic too if I were on Wall Street. Luckily, we have only lost about 3k so far, and it was extra anyway. We learned a long time ago not to trust others with our money on a long-term basis. I’d like to see us get that back, and eventually I think we will. However, it isn’t going to happen as long as there is an Obama Presidency looming on the horizon.

Another reason to vote for McCain.

[Domandred]

Congress: We must pass a bailout NOW.

President: Don’t worry about the freefall markets the bailout will take months to have an effect.

These guys have no clue.

[mhx]

Something you will never hear discussed is — to what extent is the market pricing in risk that Obama will get elected?

[paulcissa]

Lots of very undervalued stocks to choose from!

[jveritas]

Panic means that irrational people are handling the trade and that what we have at wall street. Lot of idiots with the IQ of a bird work there.

[TheDon]

A great buying opportunity!

[mhx]

There will be a dow +1000 day on November 5 after McCain wins :-)

[Hacklehead]

Thank god they passed the bailout./s

[Cementjungle]

No problem... only the ultra-rich (i.e people with jobs) will be affected. Liberals see this as “justice”.

[Kackikat]

I guess you missed the FoxNews special that showed in 2001, 2003 and again in 2005 the Bush Adminstration tried to get Freddi and Fannie rules changed, in fact a bill passed the House in 2004 of new legislation for better regulation for all concerned...it died in Senate.

And when John Snow, SEC tried to get them to reign in Fannie and Freddie it was Frank, Schummer and dems who went nuts saying they were financially fine..

[psjones]

Actually, it kept humming along just fine after McCain picked Sarah Palin, it’s when Lehman Brothers filed for bankruptcy that the market started its current freefall.

[BGHater]

‘I can calculate the movement of heavenly bodies, But not the madness of people.”

Isaac Newton

[adorno]

Thanks again Bush, Congress! And especially you Bawney Fwank and Chris “Special Treatment Homeloan” Dodd.

It's all of the above and, the polls that show Obama ahead.

Nothing scares investors more than the prospects fo a socialist leading the biggest and best economy ever into a much bigger disaster.

People are puling out their money ahead of the election. I'm pretty sure that if McCain pulls ahead in the polls, that the stock market will rise again.

But, McCain needs to do something drastic, including proposing some very major tax cuts for business and individuals. That and the repeal of the death tax, and the capital gains taxes.

[dalereed]

“I’m gonna start nibbling on stocks again when the Dow falls to approximately 8000 - 8500.”

I won’t consider even looking at them until the dow is below 3.000.

[Seaplaner]

Note to Congress...

Please stop with the "fixes".

You have done quite enough.

.

Special note to Democrats Frank, Dodd, and Obama...

Thanks for starting this with your houses-for-votes giveaway.

.