Dow ends below 10,000 on economic worries

Reuters/YahooNews ^ | 8/26/10

[Kartographer]

The Dow closed below 10,000 on Thursday for the first time since early July a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by the Federal Reserve chairman.

According to the latest available figures, the Dow Jones industrial average (DJI:^DJI - News) dropped 74.25 points, or 0.74 percent, to 9,985.81. The Standard & Poor's 500 Index (^SPX - News) lost 8.09 points, or 0.77 percent, to 1,047.24. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 22.85 points, or 1.07 percent, to 2,118.69.

The last time the Dow finished below 10,000 was July 6.

[kcvl]

Marvin Nicholson, White House trip director, left, and friend Cyrus Walker, right (White House can’t provide information about him for some reason)

Cyrus Walker
Principal
Nemco Brokerage
Q1/2007
Barack Obama
$2,300

[P.O.E.]

Maybe a negative 1% prime rate would do the trick. Call it the “Cash for Cashier’s Checks” program.

[SunkenCiv]

...for the first time since early July a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by the Federal Reserve chairman.

A drop in the interest rate leads to a rally; this is one of those lessons about "buy on mystery, sell on history". Thanks Kartographer.

[RKBA Democrat]

More Obama depression news. The O-pression for short.

[drierice]

Good lyrics.

Recovery Summer goes into Flatline Fall.

[OneWingedShark]

When will we see it below 5000?

[JDW11235]

I watched a special on the Great Depression, and I wish that I could find the same one again. It went into detail about how the market crashed a few weeks (maybe two) before Black Tuesday, and how people were pulling out. Then they convinced some of the super rich (my term, not the documentary’s) to reinvest, and so other followed suit, but they pulled out the rug from under everyone else. And when it crashed again on Black Tuesday, they had made their money and refused to put money back in, because they didn’t care about anyone else.

I’ve been advising my parents to get out for almost 3 years now. I dunno if they will or not. I wish I could find the documentary again, it was a good one, in my opinion.

[Para-Ord.45]

” What me worry?”

[VRW Conspirator]

Obama's three economic advisors

[massmike]

Dow ends below 10,000 on economic worries

...and two postings below in Breaking News...

Obama Says "I'm Having a Great Time" On Vacation

Sums it all up!

[Chode]

any more stimulus, and we'll need a defibrillator...

[Lady Jag]

The delusional life isn't for everyone.

[Vermont Lt]

Paging Dr Howard, Dr Fine, Dr Howard.....

[Diana in Wisconsin]

Keep it up, Bamster! You’re makin’ me a wealthy, wealthy woman! :)

http://www.321gold.com/

[hal ogen]

I would like to take a moment to thank the DIMs, LIBs & other assorted losers for continuing to screw-up my investments. Thanks a lot, you loser FREAKS.

[Diana in Wisconsin]

The LibTards TOLD you that our strength lies in ‘diversity.’

However, I read it as I should ‘diversify’ my investments. ;)

[festivus162]

The Zero Syndicate will do all they can to keep the Dow above 10k before the elections, just as they’ve fixed the numbers to keep “official” unemployment below 10%.

[ScottinVA]

[2harddrive]

THANKS, Osama!

[unseen1]

funny as a consumer I'm not buying until we get some serious deflation going on in the system.

My wage hasn’t budged in the last 3 years It's time my expenses come down with my wage.

the CEO’s can not have it both ways inflation of prices and deflation of wages.