Nightmare on Wall Street: Dow Plunges 513

Fox Business ^ | 8/4/11 | Adam Samson

[Nachum]

Today's drop of 513 points would rank it as the 9th worst day in 20 years.

[ziravan]

Turns out, the markets weren’t worried about the end of borrowing. They were worried about the endless borrowing.

[Nachum]

The Dow’s 50 worst days

http://blogs.marketwatch.com/thetell/2011/08/04/the-dows-50-worst-days/

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[Palladin]

Happy Birthday, Obama.

Thanks for this gift you have given America.

[djf]

The numbers being reported are all over the board.

I don’t trust a single one of them sunnsabitches.

[gaijin]

In the last 3 trading days almost 50% of the stock gains of the past year were erased.

It’s going to be REALLY interesting what happens, tomorrow.

[NavyCanDo]

A lot of fortunes wiped out today. Happy Birthday Obama.

[Mr. Peabody]

Note to self:
Don’t own stocks when President is a communist.

[brytlea]

Are you sure they aren’t just depressed that Obama turned fifty?

[DeoVindiceSicSemperTyrannis]

[pgkdan]

There goes the old 401(k). Looks like I’m going to have to work until I keel over at my desk.

[DeoVindiceSicSemperTyrannis]

[SIDENET]

Looks like I’m going to have to work until I keel over at my desk.

I would be happy to have that kind of job security.

:-)

[kinsman redeemer]

LOL
Very good.

[MeneMeneTekelUpharsin]

First of all, that is only the DOW 30 Industrials for the 513 point drop. Second, what matters is the percentage drop, not the point drop.

All of this is political maneuvering for power grabs and is designed to scare the "little people" into panicking and demanding dramatic, often unwise action. It will probably succeed.

This market is NOT being moved by small investors AT ALL. Almost all of them are on the sidelines. The market now ONLY moves through trades by VERY large players who have an agenda. They are not afraid of what government or anyone else is doing. They merely move the market to get someone's attention (i.e. Either do as we say or we'll create riots for you to deal with). It's really pretty simple.

[South40]

[wayoverontheright]

It’s going to be REALLY interesting what happens, tomorrow.

It's pretty obvious the markets don't like the debt-ceiling result. I think Geithner indicating he's staying is another negative. Perhaps the rumor that Obama and Bernanke think they're "out of bullets" is also a bit disconcerting.

I'm not betting the farm, but I'm a buyer right now, I think the market will rise in the near term.

The private sector is very, very resilient, and though this guy has pummelled us at every turn, we've hitched up our belts and gone to work for the most part. Corporate profits are up, and some will wake up tomorrow and realize that crude just went down five percent today too.

[ZULU]

“Light, sweet crude plunged $5.30, or 5.8%, to $86.63 a barrel. Wholesale RBOB gasoline slumped 19 cents, or 6.6%, to $2.74 a gallon. “

Every cloud has a silver lining, I suppose.

Obama - the Economy Killer.

Those figures are no pomegranates, right Harry Reid?????

[fortheDeclaration]

They will start whispering about another Fed bailout-that will spark the market up.

This market was way overvalued and this correction had to come.

Do people think the market is only suppose to go up?

[fortheDeclaration]

Very true!