Stocks Plunge Along With Price of Oil; Dow off 500 Points

ABC News ^ | January 20, 2016 | Marley Jay

[Deo volente]

The Dow dropped 520 points, or 3.2 percent, to 15,549 as of 12:30 p.m. Eastern time.

The Standard & Poor's 500 index lost 63 points, or 3.4 percent, to 1,817. The Nasdaq lost 150 points, or 3.4 percent, to 4,325.

U.S. indexes are down 10 percent or more since the beginning of the year.

Bond prices rose as investors shifted money out of stocks.

[PAR35]

Oil’s holding at $3.88 in 1968 dollars. And gasoline is about 25 cents a gallon by the same measure. Dow is at about 2289 on the same scale. Since the actual Dow in January 1968 was 906, stocks are still outperforming both inflation and gasoline. (Of course, the Dow is manipulated by dropping declining companies and adding rising companies, so it’s all probably really about the same).

[kidd]

Down 12% (-2160) since its high on Dec 29, 2015 (17720)

That’s the percentage the DJIA lost on Black Tuesday in 1929.

It’s just taking longer.

[Deo volente]

Of course.

On a related point, the Fed won’t dare raise rates again anytime soon in the face of this bloodbath. If anything, they’ll be dusting off the printing presses for another round or two of ‘stimulus’.

[jwalsh07]

PS: I have no idea what the market is going to do. Ever. I gave up trying to figure it out. I get 3% on the money I have and have for some time now. I am good with that. Equities are like playing three card money when you are a blind man.

[jwalsh07]

Three card Monty.

[Sam Gamgee]

Good to see markets finally reflecting reality. The markets don’t scare me. It’s the coming recession that does.

[sean327]

I hate it when people do what you just did. My money has to buy stuff at 2016 prices with 2016 dollars. I don’t give a rat’s azz what crap cost in 1968 because my reality is 2016.

[dragnet2]

DOW down close to -500 again.

[DoughtyOne]

Please participate in the Free Republic Caucus 01/20/16

If you already have, thank you.

LINK

[Sam Gamgee]

Wall street exists to shift over valued stocks to Joe and Jill Sixpack.

[dragnet2]

Recession coming? There is no doubt about it.

People will roll back spending big league. It will get way ugly in my opinion.

[Sam Gamgee]

I don’t trust the shills at Cuba.

[Buckeye McFrog]

Quick! Restart the 85-billion dollar a month QE pump!

You laugh. I'm guessing by Groundhog Day.

[Sam Gamgee]

Too bad it was put off for so long. Would have been less painful if we bit the bullet earlier.

[stephenjohnbanker]

Start the faux printing presses!!

[TexasCajun]

$ 28.46 / Barrel ...at the moment.

[VerySadAmerican]

What will gold and silver do during a depression?

[cookcounty]

Here's the good news: Exactly one year from this hour, Air Force One will be giving Barack Obama his last free ride ever, to a destination of his choice.

Teheran? Havana? Maybe he can take Bernie Sanders along to Moscow where they can stand in solidarity and reverent silence at the ruins of the Soviet Union.

[headstamp 2]

Oil at 2 cents a barrel!

[Ezekiel]