US STOCKS-Wall St drops on economic fears

Reuters ^ | June 29, 2010 | Chuch Mikolajczak

[madison10]

NEW YORK, June 29 (Reuters) - U.S. stocks slid on Tuesday after concerns resurfaced over euro-zone fiscal woes ahead of massive bank repayments to the European Central Bank and a steep drop in consumer confidence unnerved investors.

The S&P 500 briefly tumbled near its 2010 intraday low of 1,040.78, which analysts said could ignite further declines. The index is on track to close at its lowest level since November...

[griswold3]

I think the best description as to why the market is dropping is because traders have lost trust.

[jersey117]

Watch for the last half hour plunge.

[equalitybeforethelaw]

I cleaned out most of my positions this morning. Still have three on the hope that there will be a short covering rally that will fail at 10K DOW. Folks, we are looking at a first stop of 9,500, followed by 9,000, 8500, and then 8,000. Break 8,000 and you will take out the lows of 6,500. No sh#t. There is absolutely no trust in this WH, Fed, Treasury and Congress. Keep your powder dry and vote this Nov.

[OB1kNOb]

I think the best description as to why the market is dropping is because traders have lost trust.

Coming Attractions:

Traders lose trust in the Treasury bond market.
Traders lose trust in the Dollar.
Traders lose trust in the American government.

[SonOfDarkSkies]

Traders, for the most part, make money on volatility and there's plenty of that.

I think the market is weak because investors have lost faith...and, as a private investor, I wonder what took them so long.

Obama is so bad he makes Carter look like Reagan.

[OB1kNOb]

DOW down 279.

[BCEagles]

But Dear Leader says things are getting better!

[VTenigma]

Hope an Change coming to a 401K near you.

[OB1kNOb]

DOW down 298. Calling the PPT on line one............

[OB1kNOb]

-319

[OB1kNOb]

-325

[Recovering_Democrat]

Bullcrap. Hussein and Bernanke says everything is kicking ass.

Get with the program. The stimulus worked, the healthcare is popular, and cap and trade is awesome.

[WhistlingPastTheGraveyard]

And there it is. -320 as of this posting, 11 minutes left on the clock.

[b4its2late]

DOWN 317 NOW

[GonzoGOP]

Look at that chart. Not even a blip up the whole day. That isn't a panic sell off that is a capitulation.

[jersey117]

The NASDAQ and S&P are taking a beating as well.

[OB1kNOb]

-292. Come one PPT !!!

[library user]

Dow
-319.15
9,819.37
-3.15%

Nasdaq
-90.28
2,130.37
-4.07%

S&P 500
-38.60
1,035.97
-3.59%

[OB1kNOb]

-285.....PPT in action.........