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Dow plunges 400 points as Europe fears return [11:15 AM ET]
Cnn Money ^ | August 10, 2011 | By Hibah Yousuf

Posted on 08/10/2011 8:11:26 AM PDT by AAABEST

NEW YORK (CNNMoney) -- U.S. stocks fell sharply in early trading Wednesday, following the previous session's huge rally, as fears about Europe's ongoing debt crisis resurfaced.

The Dow Jones industrial average (INDU) dropped 325 points, or 2.9%. The index fell as much as 446 points, which exceeded the gain in Tuesday's massive advance.

[SNIP]

On Wednesday, shares of French bank Societe Generale, or SocGen, tumbled almost 20% on the Paris stock exchange amid speculation that France may be first to face a rating cut.

[SNIP]

The major indexes have been swinging between massive gains and losses during trading, and ending sessions either overwhelming higher or lower.

During the last month, stocks have lost almost 13%.

The market's yo-yo action tends to spoil confidence among investors, and in turn, that lack of faith fuels additional volatility

(Excerpt) Read more at money.cnn.com ...


TOPICS: Breaking News; Business/Economy; Foreign Affairs; Government
KEYWORDS: crash; downgrade; eurozone; stocks
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To: Dilbert San Diego
Obama said we shouldn’t pay attention to the daily gyrations of the stock market.

"Stocks go up and down."......wisdom from the White House.

Is Obama at Martha's Vineyard yet? Wouldn't want these 'daily gyrations' to keep him from his vacation, now would we??

61 posted on 08/10/2011 9:43:49 AM PDT by ohioWfan (Proud Mom of a Bronze Star winner!)
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To: AAABEST
The Obama Recession, you bone it you own it.
62 posted on 08/10/2011 9:43:52 AM PDT by HammerT (The Obama Recession, you bone it, you own it.)
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To: bert

I like Cavuto, which is why I plugged FBN and said it was better then FNC for news and much better for economic news. But I don’t like Cavutos’ style as an interviewer. He has a bad habit of NEVER allowing his subject to finish a sentence, very annoying. My main gripe with Fox News is that they NEVER do any real reporting, NEVER, it’s 24/7 talking heads. Boring and not very informative either. FBN does reporting, does investigating and does cover breaking news MUCH better the Fox News. I switched from Fox to Fox Business long ago and I am much happier at Fox Business. I’ll go to Fox for Brett, Magan and Gretta other then that I’m at FBN. Oh and if there is a big crime story I don’t do Gretta either.


63 posted on 08/10/2011 9:51:50 AM PDT by jpsb
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To: henkster
Turns out that obama doesn't know much about what 'the world' expects or needs, even though he thinks he's the world's president.

This is the most clueless puppet in the history of tyrant wannabes, IMO.

My only hope is that this time his cluelessness is going to defeat him. I just hope there's enough of America left to salvage by the time November 2012 rolls around.

64 posted on 08/10/2011 9:51:51 AM PDT by ohioWfan (Proud Mom of a Bronze Star winner!)
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To: AAABEST

Just saw a Reuters story. They’re blaming “French bank fears” for today’s huge market drop.


65 posted on 08/10/2011 10:12:36 AM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: ohioWfan
Is Obama at Martha's Vineyard yet?

Nope, he's got a Ramada dinner to host at the White House tonight.

66 posted on 08/10/2011 10:20:58 AM PDT by ladyvet ( I would rather have Incitatus then the asses that are in congress today.)
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To: ladyvet

opps, Ramadan....whatever.


67 posted on 08/10/2011 10:22:56 AM PDT by ladyvet ( I would rather have Incitatus then the asses that are in congress today.)
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To: ladyvet

LOL! I was trying to figure out if that was a freudian slip or something. :)


68 posted on 08/10/2011 10:41:18 AM PDT by ohioWfan (Proud Mom of a Bronze Star winner!)
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To: AAABEST

“When the wicked rise, men hide themselves.....” Prov.28:28

As commodities (oil etc., rise) while the stock markets fall/freeze, the de-coupling begins. Foreign countries (Japan, Australia, etc.,) will expose our lie, and not play along.

“Thou shall not steal.” Exodus 20:15


69 posted on 08/10/2011 11:24:29 AM PDT by Varsity Flight
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To: AAABEST
(Stolen from mark Shea).

Hey AAAAAAAbboooooooott!

How bad is the economy, Lou?

Abbott, the economy is so bad I received a pre-maxed credit card in the mail.

Exxon-Mobil laid off 25 Congressmen.

Chase Bank laid off 5 Senators.

Angelina Jolie adopted a child from Vermont.

Motel Six makes you turn out the light.

A picture is now worth 20,000 words.

When Bill and Hillary travel together, they share a room.

I was so depressed thinking about the economy, that I called the Suicide Hotline. My call was routed to overseas Hotline center. They got excited and asked if I could drive a truck.

70 posted on 08/10/2011 11:34:15 AM PDT by Mrs. Don-o (The economy is so bad that.... depressed people are trying to blitz out on Lite Beer...)
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To: ohioWfan

It’s the liberal economy that is to blame. Obama just wants us to be like Greece and all the other failed european countries.


71 posted on 08/10/2011 1:09:11 PM PDT by ari-freedom (It's time for Obama to get a downgrade.)
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To: ari-freedom

Now down over 500 points..this Market HATES Obama and his liberal policies. I bet he is enjoying every minute of this


72 posted on 08/10/2011 1:15:10 PM PDT by Sarah Barracuda
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To: AAABEST

It’s about plunge protection time. Let’s watch.


73 posted on 08/10/2011 1:16:45 PM PDT by wolfman
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To: ari-freedom
Agree. He probably would welcome riots in the U.S. streets as well.

The guy is diabolical, and he hates the country he was elected to lead.

Scary stuff.

74 posted on 08/10/2011 1:23:52 PM PDT by ohioWfan (Proud Mom of a Bronze Star winner!)
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Question...... why does my post say 4:23 when I posted it at 4:06?

Weird.

75 posted on 08/10/2011 1:25:20 PM PDT by ohioWfan (Proud Mom of a Bronze Star winner!)
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To: AAABEST
Let me know when the suicides begin. :-)
76 posted on 08/10/2011 1:30:41 PM PDT by verity (The Obama Administration is a Criminal Enterprise.)
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77 posted on 08/10/2011 2:38:10 PM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list.)
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To: All; AAABEST

Down 519 for the day.


78 posted on 08/10/2011 3:20:46 PM PDT by newzjunkey
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To: newzjunkey

Stock futures are now DOWN, oil is back down close to $81, and gold is going higher after-hours.

More pain tomorrow? We’ll see.


79 posted on 08/10/2011 4:04:25 PM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: Deo volente

I’m hoping it drops at least another 500 tomorrow and again on Friday. Obama’s ratings will tank right along with the market. Put all of my money into gold six years ago and I’m sitting pretty right now.


80 posted on 08/10/2011 7:10:35 PM PDT by conservaterian (Sarah/DeMint '12)
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