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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 ...
"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??
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.
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.
Just saw a Reuters story. They’re blaming “French bank fears” for today’s huge market drop.
Nope, he's got a Ramada dinner to host at the White House tonight.
opps, Ramadan....whatever.
LOL! I was trying to figure out if that was a freudian slip or something. :)
“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
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.
It’s the liberal economy that is to blame. Obama just wants us to be like Greece and all the other failed european countries.
Now down over 500 points..this Market HATES Obama and his liberal policies. I bet he is enjoying every minute of this
It’s about plunge protection time. Let’s watch.
The guy is diabolical, and he hates the country he was elected to lead.
Scary stuff.
Weird.
Down 519 for the day.
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.
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.
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