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S&P 500, Nasdaq, (and DOW) fall more than 4 percent
Reuters ^ | 8/4/11 | Caroline Valetkevitch

Posted on 08/04/2011 11:54:58 AM PDT by NormsRevenge

NEW YORK (Reuters) - Investors fled stocks on Thursday, putting the S&P 500 into correction territory, as worries about the U.S. economy and European debt escalated.

All three indexes were down 2 percent, having fallen more than 3 percent each at one point. Decliners beat advancers on the New York Stock Exchange by 14 to 1.

"People are throwing in the towel because they can't find relief on any front. There are a lot of worries about the economy," said Milton Ezrati, market strategist at Lord Abbett Co. in Jersey City, New Jersey, which manages $110 billion in assets.

The Dow Jones industrial average was down 284.35 points, or 2.39 percent, at 11,612.09. The Standard & Poor's 500 Index was down 32.39 points, or 2.57 percent, at 1,227.95. The Nasdaq Composite Index was down 72.21 points, or 2.68 percent, at 2,620.86.

The S&P 500's losses since its May 2nd intraday high have now reached more than 10 percent, putting it in correction territory.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Foreign Affairs; Your Opinion/Questions
KEYWORDS: dowjones; economic; nasdaq; obama; obamadepression; obamalaise; obamanomics; palin; plunge; recovery; selloff; sp500; stock; stockmarket; stocks; uncertainty
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To: NormsRevenge

If we keep doing what Obama and Reid want and Boehner acquiesces, I’d say thereisn’t any uncertainty whatsoever. The future is pretty certain.


21 posted on 08/04/2011 12:09:34 PM PDT by stevem
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To: NormsRevenge

The beginning of the end. These past 2 weeks millions of Americans and foreign investors have had a chance to examine the books. The debt of this Country is beyond comprehension.

I made the mistake by picking up a few groceries at Walmart August 1st. The checkout lines were 20 deep with food stamp customers. Their carts were loaded as if they were stocking up for a year. I couldn’t help but feel that we have zero chance of economic recovery.


22 posted on 08/04/2011 12:10:49 PM PDT by Kahuna
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To: NormsRevenge

Welcome to the United States of Obama

23 posted on 08/04/2011 12:10:58 PM PDT by Obadiah (Obama: "Let them eat peas!")
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To: NormsRevenge
I'm sure a campaigning bus tour thru the heartland will demonstrate the leadership and courage the country is desperately seeking. The markets just need a leader (and a congress) to instill confidence. But marxists and socialists want anything but confidence in markets. That's been the formula for their success thruout history.

FWIW, all the corporations sitting on cash can buy back some of their stock cheap.

24 posted on 08/04/2011 12:11:10 PM PDT by blackdog (The mystery of government is not how Washington works but how to make it stop)
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To: NormsRevenge

Don’t worry will be back below 200 before the days over the feds will pump some money into the market before its over... they have done it before , they will do it again. the feds should be great at printing money before its over with. again I could be wrong


25 posted on 08/04/2011 12:13:38 PM PDT by MATSEVAH
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To: NormsRevenge

Uh, you forgot to add to the title — “unexpected”


26 posted on 08/04/2011 12:14:31 PM PDT by USNA74
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To: NormsRevenge

But.... it's not my fault!

It's those "headwinds" from Europe.

It's that nuclear accident in Japan!

It's those Tea Partiers who kept us from raising the debt ceiling on time!!

It's the economy I inherited which Bush drove into the ditch with his tax cuts for millionaires and billionaires!!!

So, what do you expect me to do, anyway? I've got a fund-rais... er, a party to attend...

27 posted on 08/04/2011 12:15:23 PM PDT by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: NormsRevenge

Thank god we passed that debt bill or this would be a lot worse.

So when can the liberals running Wall Street expect their big dollar bailouts. :)


28 posted on 08/04/2011 12:15:30 PM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: Doctor 2Brains

...our work is not even half done....

or something to that effect.


29 posted on 08/04/2011 12:15:38 PM PDT by himno hero
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To: NormsRevenge
Wonder if *The Obama Birthday Market Crash* will be the headline tonight in the MSM news?

First black president, 50th birthday, market crash, it all ties together naturally to place it in time as a headline.

Seems logical to me :^)

30 posted on 08/04/2011 12:15:47 PM PDT by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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To: kinsman redeemer

Yeah but they’re fairly predictable.


31 posted on 08/04/2011 12:16:03 PM PDT by Free Vulcan (Obama/Biden '12: No hope and chump change.)
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To: NormsRevenge
Pitchfork and tar futures up sharply.

Now we gotta wait a month until the vermin re-congregate back in D.C., because they all took off on vacation.
32 posted on 08/04/2011 12:16:44 PM PDT by crosshairs (If Sharia Law becomes the law of the land, heads are gonna roll.)
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To: The Cajun

God help us to hold on until November 2012.

I told anybody who would listen in 2008 that we’d be lucky to survive 4 years of Obamanomics.


33 posted on 08/04/2011 12:18:03 PM PDT by mwl8787
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To: mwl8787
God help us to hold on until November 2012.

I don't think we'll make it to then.
34 posted on 08/04/2011 12:19:18 PM PDT by crosshairs (If Sharia Law becomes the law of the land, heads are gonna roll.)
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To: Attention Surplus Disorder

The problem with that kind of certainty is that it compels companies to keep their money on the sidelines instead of putting it to work. News has been saying for a while now that there are trillions of dollars parked and not being used by American businesses.

They can do that for a while.

There comes a point, though, where the economy gets so bad that parked money loses value, either because interest rates go up or because investments tank. (As they did today.)

If nobody is winning, then nobody is earning and nobody is growing.


35 posted on 08/04/2011 12:22:01 PM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their VICTORY!)
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To: Kahuna
The EBT card is the primary receipts on the daily books of the major grocery chains in the city of Memphis. A customer actually paying for their groceries is uncommon.

The EBT card stands for the "Elect Barack Trust" organized community.

36 posted on 08/04/2011 12:22:20 PM PDT by blackdog (The mystery of government is not how Washington works but how to make it stop)
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To: NormsRevenge

Well, we can at least take comfort in the president enjoying his birthday. Some good news today.

/sarc


37 posted on 08/04/2011 12:22:20 PM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: MATSEVAH

So you’ve seen this act before.

It’s always interesting to watch the regular buyers drive the market in the last hour. (sarcasm)


38 posted on 08/04/2011 12:22:41 PM PDT by Rational Thought
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To: Obadiah

That looks like a picture of Obamaville. Where we are all the same.


39 posted on 08/04/2011 12:25:27 PM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: mwl8787
I told anybody who would listen in 2008 that we’d be lucky to survive 4 years of Obamanomics.

I think luck ran out this week with the debt ceiling bill passage.

Into the abyss we go at full throttle.

40 posted on 08/04/2011 12:28:31 PM PDT by The Cajun (Palin, Free Republic, Mark Levin, Rush, Hannity......Nuff said.)
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