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Stocks Drop 4%, Dow Skids 500, Led by Banks
CNBC ^ | 8-10-11 | Jeeyoen Park

Posted on 08/10/2011 1:29:28 PM PDT by tcrlaf

Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks.

The Dow Jones Industrial Average finished down over 500 points, wiping out the previous session's 429-point rally. The blue-chip index has had triple-digit moves in four of the last five trading days.

The S&P 500 and Nasdaq also finished sharply lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared more than 25 percent.

(Excerpt) Read more at cnbc.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: 0officers; 0planners; 0socialists; 0teachers; barackalypsenow; bhoeconomy; bhofascism; democrats; markets; nobama2012; obama; obamadepression; obamageddon; obamanomics; stock; stockmarket; stocks
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To: GonzoGOP

The PPT did a bump at the close yesterday, but they couldn’t hold it. <<

My thoughts as well....Ive been watching the quick spikes up when they step in for more then a year now....I need to learn more about “exactly” how they do it..I know futures are involved and there are huge spikes that happen out of the blue..


21 posted on 08/10/2011 1:48:03 PM PDT by M-cubed
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To: tcrlaf

Obamanomics Works!
22 posted on 08/10/2011 1:48:17 PM PDT by Zakeet (If it ain't broke, the Wee Wee will fix it until it is)
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To: tcrlaf

23 posted on 08/10/2011 1:48:37 PM PDT by Signalman
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To: LostInBayport

Obama: OK now, lets. say, ah, the economy is like a snowball, see and uh it’s green like money, and the Republicans are like hoarding it in some richman’s deep freeze, maybe in his uh corporate jet so to get it back in the economy where single moms and autoworkers can get a lick at I gotta find that snowball and uh, lick it. Right?


24 posted on 08/10/2011 1:50:55 PM PDT by dblshot (Insanity: electing the same people over and over and expecting different results.)
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To: Signalman

Ugh. He must have learned his table manners in Kenya.


25 posted on 08/10/2011 1:52:53 PM PDT by livius
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To: tcrlaf

Note to self: Pick up some Wells Fargo stock in the morning. It’s heavily undervalues on the Graham scale.


26 posted on 08/10/2011 1:53:00 PM PDT by AppyPappy (If you aren't part of the solution, there is good money to be made prolonging the problem.)
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To: Signalman

What’s he wearing around his right wrist, btw?


27 posted on 08/10/2011 1:53:23 PM PDT by livius
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To: tcrlaf

[ Meanwhile, Hussein is FOCUSED LIKE A LASER BEAM on his Iftar Ramadan Dinner tonite.... ]

And he is probably going to be very hungry after not having any food for like 12 hours or so.....


28 posted on 08/10/2011 1:55:15 PM PDT by GraceG
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To: pgkdan

Is everybody enjoying their ‘Recovery Summer’?


I made a “green shoot” salad in honor of the event!!!


29 posted on 08/10/2011 1:55:31 PM PDT by Presbyterian Reporter
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To: GonzoGOP

Good tip.


30 posted on 08/10/2011 1:57:45 PM PDT by Scott from the Left Coast
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To: Artemis Webb

I had the same feeling you did.

Figured the “normal” cycle of economic activity would bail him out.

But their policies were SO BAD that they have overcome the “normal” cycle.


31 posted on 08/10/2011 1:58:05 PM PDT by nascarnation
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To: ully2

At this point we have none. We have a bunch of politicians interested in their own personal perks, power and priveleges but no real leaders. we need to change that soon!


32 posted on 08/10/2011 1:58:37 PM PDT by pgkdan (Time for a Cain Mutiny!)
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To: tcrlaf

TEA partiers dood it with their divisive, partisan rhetoric.


33 posted on 08/10/2011 1:59:21 PM PDT by Eleutheria5 (End the occupation. Annex today)
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To: Oldeconomybuyer
"Americans... still believe in an America where anything's possible - they just don't think their leaders do". - Barack Obama

Thinking anything is possible is not necessarily a good thing. The problem is that Obama thinks socialism is possible.

34 posted on 08/10/2011 2:00:01 PM PDT by Scott from the Left Coast
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To: tcrlaf

Still going on vacation...

Carney Defends Obama Vacay To Martha’s Vineyard; “No Such Thing As A Presidential Vacation”

White House press secretary Jay Carney defends President Obama’s upcoming 10 day trip to Martha’s Vineyard. Carney is asked why the President is taking such a vacation when he constantly says he “will not rest” until the jobs issue is resolved. Here is the exchange:

Jake Tapper, ABC News: “You said the President will not rest until the joblessness and the economy are worked out, but the President is obviously going on vacation. But I was wondering, Is there any concern — I understand that it takes two to tango in Washington. We went over that the other day. You need the Congress to be in Washington. We went over that the other day about whether or not you guys should call Congress to come back. Is there any concern about the impression that the President going to Martha’s Vineyard for 9 or 10 days might leave on the American people? And also, if this is such an important issue for Speaker Boehner, for Harry Reid, for President Obama, why the R&R?”

http://www.realclearpolitics.com/video/2011/08/10/carney_defends_obama_vacay_to_marthas_vineyard_no_such_thing_as_a_presidential_vacation.html


35 posted on 08/10/2011 2:00:46 PM PDT by kcvl
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To: livius
What’s he wearing around his right wrist, btw?

It's the new wearable teleprompter.

When Baraq can't use the big one, he goes miniature.

36 posted on 08/10/2011 2:01:04 PM PDT by nascarnation
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To: pgkdan

Excellent point.


37 posted on 08/10/2011 2:02:13 PM PDT by brytlea (Wake me when it's over...)
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To: livius
What’s he wearing around his right wrist, btw?

Hopefully soon, shackles, with the words "Property of Leavenworth Penitentiary" written on them.
38 posted on 08/10/2011 2:05:47 PM PDT by crosshairs (If Sharia Law becomes the law of the land, heads are gonna roll.)
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To: dblshot

And to that Paul Krugman, Diane Sawyer, Chrissy Matthews and the like will say “Isn’t that the most brilliant analogy? He’s going to fix everything!” Then they would have breaking news to announce that Michelle Bachmann placed a stamp kind of crooked on a letter she mailed.


39 posted on 08/10/2011 2:06:04 PM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: tcrlaf

Already the left is spinning this as a sinister Republican plot. The line is that S&P is owned by McGraw Hill, and one of the executives of McGraw Hill was a major GWB donor (Stephanie Miller Show, 09AUG2011).


40 posted on 08/10/2011 2:09:17 PM PDT by Fred Hayek (FUBO, the No Talent Pop Star pResident.)
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