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December Despair: Dow Drops 680
Fox Business ^
| December 01, 2008
| Matt Egan
Posted on 12/01/2008 1:59:11 PM PST by AngieGal
A wave of daunting economic headlines took control of the markets on Monday as the Dow suffered its fourth worst one-day point decline on record.
The latest bleeding came as the markets received confirmation the U.S. has been in a recession for a year, a fact backed up by gloomy speeches from regulators and a new report showing manufacturing activity stands at 26-year lows.
The Dow Jones Industrial Average lost 679.95 points, or 7.70%, to 8149.09, the S&P 500 slumped 80.03 points, or 8.93%, to 816.21 and the Nasdaq Composite fell 137.50 points, or 8.95%, to 1398.07. The consumer-friendly FOX 50 slid 56.42 points, or 8.09%, to 640.96.
Monday's plunge erased more than half of a five-day winning streak that saw the Dow climb nearly 1,300 points.
(Excerpt) Read more at foxbusiness.com ...
TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: djia; dow; economy; obamanomics
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1
posted on
12/01/2008 1:59:11 PM PST
by
AngieGal
To: AngieGal
2
posted on
12/01/2008 2:00:36 PM PST
by
Kimmers
(Always go straight forward. If you meet the devil, cut him in half and go between the pieces.)
To: AngieGal
I thought everything was rosy again cuz’ Urkel named his fab economix team.
3
posted on
12/01/2008 2:01:05 PM PST
by
Carl LaFong
(I'm Sarah Palin)
To: AngieGal
No one has any confidence in this clown. He and his fellow travellers caused this financial disaster with CRA, Fannie & Freddie and their hedge funds 100 to 1 leverage pals.
4
posted on
12/01/2008 2:01:50 PM PST
by
Frantzie
To: AngieGal
The dead cat keeps bouncing. Obama is bad news for the economy and the MSM is still blowing up his balloon.
5
posted on
12/01/2008 2:03:08 PM PST
by
weegee
(Sec. of State Clinton. What kind of change is it to keep the Bush-Clinton-Bush-Clinton Oligarchy?)
To: AngieGal
6
posted on
12/01/2008 2:03:12 PM PST
by
KoRn
To: AngieGal
Another nail in the coffin of the Failed Obama Administration...
7
posted on
12/01/2008 2:05:35 PM PST
by
pabianice
To: AngieGal
I take the market was unimpressed by 0’s national security cabinet.
To: AngieGal
When are guys gonna start jumping out of windows?
9
posted on
12/01/2008 2:06:43 PM PST
by
agooga
(Struggling every day to be worthy of their sacrifice.)
To: AngieGal
” the U.S. has been in a recession for a year”
A recession is two quarters of falling GDP- we haven’t had that.
Instead of redefining a good word like recession, they should call whatever this has been a ‘maccaca’!
]
That’s a word that everyone knows means whatever the media want.
10
posted on
12/01/2008 2:07:55 PM PST
by
mrsmith
To: AngieGal
Hey, George Stephanopoulis! Do you still want to give 0 the credit for what happens in the stock market?
11
posted on
12/01/2008 2:08:27 PM PST
by
murron
(Proud Marine Mom)
To: AngieGal
12
posted on
12/01/2008 2:09:47 PM PST
by
NonValueAdded
(once you get to really know people, there are always better reasons than [race] for despising them.)
To: AngieGal
jesus christ jr. and his disciples (Pelosi and Reid) will cause 20 million to lose their jobs in the next 2 years. Mark my words.
13
posted on
12/01/2008 2:10:03 PM PST
by
dancusa
(For liberals there is no end to their rights and no beginning to their responsibilities.)
To: murron
14
posted on
12/01/2008 2:10:33 PM PST
by
John W
(Voters were more afraid of losing their money than losing their souls.)
To: Frantzie
No one? Somebody must. Somebody somewhere.
15
posted on
12/01/2008 2:10:42 PM PST
by
RightWhale
(We were so young two years ago and the DJIA was 12,000)
To: mrsmith
“A recession is two quarters of falling GDP- we havent had that.”
Libtards will define it any which way they please.
To: AngieGal
More fear and panic selling. Hopefully the Wall Street window jumpers will eventually emerge from their psychotic episodes and start acting rationally. Americans are taking the turndown much better than the Wall Street weenies and are showing much more maturity and rationality.
To: AngieGal
It's not nice to screw with Mr. Market.
He always wins.
18
posted on
12/01/2008 2:23:06 PM PST
by
upchuck
(Bumper sticker on my pickup: I'm a fierce global warmer.)
To: dancusa
"Jesus Xhrist Jr. and his disciples (Pelosi and Reid) will cause 20 million to lose their jobs in the next 2 years. Mark my words."Minimum 80% in blue states; (single, unmarried) women and minorities hit hardest.
19
posted on
12/01/2008 2:24:15 PM PST
by
StAnDeliver
(And people complain about 'good works'...)
To: agooga
When are guys gonna start jumping out of windows?
A couple of years.
Only it will just be taxpayers taking the leap.
When they realize their dollars have been incredibly devalued
with those money presses running 24/7/365.
As for the corporate/Wall Street types...no time to leap from their
corporate towers.
They'll be too busy carting away "other people's money" from the
federal bail-out trough.
As Bernanke said today: this is nothing like The Great Depression.
This time we're going to save all the millionaires/billionaires
and trillionaires.
And taxpayers will help them so much it REALLY hurts.
Well, except for the UAW members that will probably have their
gold-plated retirements preserved as part of the Detroit Three
(not, NOT "The Big Three") bailout plan.
20
posted on
12/01/2008 2:24:34 PM PST
by
VOA
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