Skip to comments.Stocks plunge, S&P goes negative for year
Posted on 08/02/2011 2:35:56 PM PDT by John W
NEW YORK (CNNMoney) -- U.S. stocks plunged on Tuesday as fears about a weak U.S. economy were enflamed after investors got another disappointing economic report - this time on consumer spending.
The selloff was so broad and so deep it pushed the S&P 500 into negative territory for the year and bond yields to their lowest levels in nine months.
(Excerpt) Read more at money.cnn.com ...
If THAT doesn't work then QE4 and an even HIGHER increase in taxes.
No kidding! Wonder if it had anything to do with the Presidents attempt to qualify the debt deal - ie. more taxes (balances approach)... Hmmm, seems like whenever he opens his mouth, stocks fall...
TG default was avoided, otherwise the market would have plunged. Did any of the morons living in this nation happen to notice?
You forgot about adding another entitlement or a few thousand pages of regulations.
Wll, if you call making all illegals legal (voters) an entitlement then I 'spose.
My guess is that it did.
It had not been good all day, but shortly after that jerk opened his mouth it dropped over 100 more points.
I hate Obama and wish him the very worst.
People will not spend money until they are not longer afraid for the future. Nothing Washington is doing has inspired confidence. The root of the problem is in D.C.
Obama’s RG speech was all about spend, spend,spend, raise taxes, raise taxes, raise taxes, enough to scare the hell out of any market investor.
Obama, Reid, McConnell, Boehner, et al, you ain’t seen nuthin yet!! IDIOTS!!
At least the bonds "yield". The stock market is just a little too volatile for my blood these days. I expect it to crash back down into the 7500 range in the next year. But I've been wrong before.
Bonds are down, too.
Everything’s becoming worthless.
I do believe you are right. People are PISSED out there.
“Everythings becoming worthless.”
Except my silver and gold coins !
Guns retain value too
Just a little perspective: In Jan 2007 when the Reid/Pelosi cartel took control of Congress the DOW was at 12398.
Sounds like a plan. Let’s do it!
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