"TURN THOSE MACHINES BACK ON!"
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 ...
Bush had his surge,,
Obama’s surge here is a whopper here as the market is near closing .. and butt-massaging time for most of us....
A dance to the tune of economic decline/Is when you do the bottom line/Nagging questions always remain./Why did it happen and who was to blame? - Big Audio Dynamite
Reuters Update
Wall Street Plunges on Economic Fears; Dow Sinks More Than 400 Points; S&P, Nasdaq Down 4%; VIX Soars - Reuters
http://finance.yahoo.com/news/Wall-Street-extends-recent-rb-803713724.html
Thursday August 4, 2011, 3:40 pm
NEW YORK (Reuters) - The S&P 500 and Nasdaq fell more than 4 percent on much higher-than-average volume while the Dow added to losses on Thursday, as worries about the outlook for the U.S. economy and the debt crisis in Europe escalated.
The S&P 500 was on track for its biggest daily percentage drop since April 20, 2009.
The Dow Jones industrial average was down 436.21 points, or 3.67 percent, at 11,460.23.
Dow -489
S&P - 54.36
-470 now. There’s buying flooding in but the sellers are absorbing all.
S/B Dow - 469
Now’s the time to get behind a Obama Re-election campaign!
Obama forever!
America? Never!
(No Romneys, please!)
But6 hey, at this rate, what’s 20 pts?
Sell! Damnit!
Move to Switzerland!
Dow -509.54
-510 on the Dow. No circuit breakers the last 1/2 hour.
-511 points.
They’re all rushing for the exits before the close...
"TURN THOSE MACHINES BACK ON!"
What in the HELL are we “holding on” for. We have GOT TO DO SOMETHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
WHOOTT!! THere IT IS!! 500!!
I guess this will be the excuse for the next “crisis”....QEIII.
Impeachment would work much better.
-514 now
Congratulations, Mr. Pres__ent!!
You Won!!!
Yikes.
I just heard the close was -512 points...
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