U.S. Stock Losses Intensify After Senate Vote

Marketwatch ^ | 8/2/11 | Marketwatch

[voicereason]

2:19 PM ET 8/2/11 | Marketwatch

NEW YORK (MarketWatch) -- U.S. stocks fell to their lowest levels of the session Tuesday as investors worried about the health of the economic recovery, even after the Senate approved the debt-ceiling bill and avoided a potential government default.

"The recent round of economic data has been disappointing," said Fred Dickson, chief investment strategist at Davidson Cos., pointing to a "small but growing risk that the economy might slide back into a very shallow recession."

Helping foster such fears, the Commerce Department reported consumers trimmed their spending in June for the first time in almost two years. Read more about June data on consumer spending, prices and personal incomes.

Extending its longest losing streak in more than a year, the Dow Jones Industrial Average (DJIA) dropped 158.58 points, or 1.5%, to 11,951.91. It touched a low of 11,941.85 after the Senate vote.

[voicereason]

Not surprising......

[GOPRaleigh]

To quote my teenage daughter - “DUH!”

[forgotten man]

Meanwhile back in Washington D.C. the backslapping and self congratulations continue. Way to go a#^*les!

[TSgt]

[RexBeach]

“A shallow recession.” Got it! Check!

[grobdriver]

as investors worried about the health of the economic recovery, even after because the Senate approved the debt-ceiling bill

More like it...

[jersey117]

Doesn’t Barry look stupid signing this bill. Let’s all celebrate! The market is down..... and soon our rating will be as well thanks to the fools on the hill.

[Deo volente]

S&P down 1.8%

Yield on 30-yr Bond below 4%. Here comes 2008 all over again. Get ready for another stimulus!

[rovenstinez]

PRINT the MONEY....Make the Chinese happy!!!

[Buckeye McFrog]

at this point Obama might well welcome a stock-market collapse, since it would take away the argument that he has to stop doing Socialist stuff or else the stock market will collapse.

[SC_Pete]

ALL UNCERTAINTY IS NOW NULL AND VOID. wn ten years from now, We are now certain to have $26 trillion in debt instead of $28 trillion. Of course, the US will be insolvent long before that—but at least the uncertainty is gone.

[GnL]

Time to release the killing Bin Laden video to America so that the stupid masses get distracted from the impending collapse of our financial system.

[Ohioan]

The market is reacting to several phenomena--as it always does. But the gold surge, today, reflects the realization that by not cutting Federal spending, both drastically & immediately, the debt ceiling "compromise," makes a further decline in the dollar more certain than ever.

But, again, there are multiple factors at play in the stock sell-off. It may or not be a harbinger of what will follow.

William Flax

[Huskrrrr]

Belly up to the bar, Congress. We’re buying!

[Las Vegas Ron]

-170.89‎ (-1.41%‎) Aug 2 3:13pm ET undefined‎ ‎ (%‎) Open: 12129.77 High: 12130.30 Low: 11939.16 Volume: 69,993,524 Avg Vol: N/A Mkt Cap: N/A Disclaimer

[pburgh01]

Rush nailed it on the head today. We live in the matrix, a giant ponzi scheme and it's collapsing. We have max of 10-15 years and the whole US will make Greece look like child's play. There will be a time when it's you putting your Union Vampire Neighbor in the graveyard or he will steal and rape you and yours. CIV II is coming, I suspect I know how it will turn out, high casualties with the military being force to exterminate a certain portion of the populace just to maintain civil order. Did'nt end well for Rome, won't end well for us. China, Russia, they won't be able to lick their chops they will be worse. China will implode when we are not buying cheap imports anymore.

[Red Badger]

BOHICA!
I hope they bought a lotta K-Y..................

[Red Badger]

[Eleutheria5]

You mean, they’re not singing Hosanas and passing around champagne just because the guvermint voted to print more money and then borrow it?

[bray]

Bush’s Fault!

Pray for America