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Stocks plunge amid Egypt unrest
CNNMoney ^ | 1/28/2011 | Hibah Yousuf

Posted on 01/28/2011 1:47:39 PM PST by Signalman

NEW YORK (CNNMoney) -- U.S. stocks plunged Friday, with the three major index logging the worst daily drops in months, as investors grew nervous about political unrest in Egypt.

The Dow Jones industrial average (INDU) lost 166 points, or 1.4%, the biggest daily drop since Nov. 16, 2010. A 3.9% drop in Microsoft's (MSFT, Fortune 500) stock led the blue chips lower despite the company posting record sales of $20 billion. The deep losses also ended the Dow's 8-week winning streak. The index slipped 0.4% during the week.

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


TOPICS: Business/Economy
KEYWORDS: djia; stocks

1 posted on 01/28/2011 1:47:44 PM PST by Signalman
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To: Signalman

Unrest in egypt causes our stocks to tumble? Dont think so.


2 posted on 01/28/2011 1:51:24 PM PST by Walkingfeather
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To: Signalman

metals seemed to respond favorably to the chaos.


3 posted on 01/28/2011 1:51:48 PM PST by RC one (WHAT!!!!)
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To: Walkingfeather

Uncertainty in the oil supply would, I’d imagine, be a concern.


4 posted on 01/28/2011 1:53:06 PM PST by 9YearLurker
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To: Walkingfeather

The price of oil is going to skyrocket. Count on it.


5 posted on 01/28/2011 1:53:06 PM PST by Ev Reeman
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To: Signalman

Except for oil futures, of course. Those appear to be up considerably.


6 posted on 01/28/2011 1:54:07 PM PST by familyop (cbt. engr. (cbt), NG, '89-' 96, Duncan Hunter or no-vote.)
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To: Signalman
And what does our CLUELESS, Dear Leader do? He advises Mubarak to "allow for freedom" and pull his troops back (which of course will probably lead to his overthrow) and then.....it's Katy bar the door, because if anyone does not think Muslim Brotherhood/ISLAMO-FASCIST (and especially Iran) is not behind this, they are in for a rude awakening.

Look for $4 (maybe $5 or even $6) a gal real soon, and if the Suez get's closed, which is a real possibility, then all bets are off.

Yep, Obama=Carter and Carter=Obama and it remains to be seen which is (will be) the WORST President ever.

7 posted on 01/28/2011 2:01:22 PM PST by Conservative Vermont Vet ((One of ONLY 37 Conservatives in the People's Republic of Vermont. Socialists and Progressives All))
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To: Conservative Vermont Vet

Israel and the US are going to go in and make sure that Wafd and the opposition Egyptians are able to hold off the Islamic Brotherhood. Count on it.


8 posted on 01/28/2011 2:10:25 PM PST by Thunder90 (Fighting for truth and the American way... http://citizensfortruthandtheamericanway.blogspot.com/)
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To: Walkingfeather

>> Unrest in egypt causes our stocks to tumble? Dont think so.

You know those loveable financio-journos: they have GOT to give a cause-and-effect reason for whatever whichaway the market moves.

I just find it hilarious how Monday the market will do something totally different and Friday’s thoughtful analysis and reasoning goes right out the window in favor of the NEW “reason du jour”!


9 posted on 01/28/2011 2:12:02 PM PST by Nervous Tick (Trust in God, but row away from the rocks!)
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To: Nervous Tick

I will wait till i see what Cramer has to say


10 posted on 01/28/2011 2:24:40 PM PST by al baby (Hi Mom!!! <sarc>)
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To: Bullish; CJ Wolf; houeto; Quix; B4Ranch; Whenifhow; Silentgypsy; blam; FromLori; Lurker; ...
Oil-and-gold-are-buy-and-hold ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

11 posted on 01/28/2011 2:25:23 PM PST by The Comedian (Stop voting for The Government Party)
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To: al baby

>> I will wait till i see what Cramer has to say

LOL! Hell, I just wrote Cramer a check and I let him manage all my money.

You wouldn’t BELIEVE how much it has cut down on my income taxes...


12 posted on 01/28/2011 2:27:43 PM PST by Nervous Tick (Trust in God, but row away from the rocks!)
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To: The Comedian

I heard on the radio today that oil was up “because of strong economic growth in the US”.

Distressingly, there are people out there who will believe that one.


13 posted on 01/28/2011 2:35:18 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Walkingfeather

Exactly.

It’s more like some rich investor had to make a payment on his yacht and sold a ton of stock, which scared all the other investors and made them sell their stock, too.

It’s sick.


14 posted on 01/28/2011 2:37:10 PM PST by FatherFig1o155 (Still fighting the fight. njconservative.wordpress.com/)
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To: Signalman
When oil hits 200 dollars a barrel and gas at the pump his 5 dollars a gallon this Country will come unglued. King Obama better find another Country to hide in because of his constant destruction to our drilling for oil in our territory.
15 posted on 01/28/2011 2:42:52 PM PST by Logical me
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To: Walkingfeather
"Unrest in egypt causes our stocks to tumble? Dont think so.

Don't Blame Egypt for Today's Sell-Off

While analysts point to the current crisis in Egypt as the culprit in today's decline, there have been growing signs that the latest leg of the rally was nearing exhaustion.

16 posted on 01/28/2011 2:50:38 PM PST by blam
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To: DuncanWaring
I heard on the radio today that oil was up “because of strong economic growth in the US”.

Distressingly, there are people out there who will believe that one.

Yeah, but most of them work for CNBC.


Today is a good day to die.
I didn't say for whom.

17 posted on 01/28/2011 2:54:05 PM PST by The Comedian (It's 3am all over the planet.)
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To: DuncanWaring; The Comedian

>>I heard on the radio today that oil was up “because of strong economic growth in the US”.<<

>Distressingly, there are people out there who will believe that one.<

Most distressful is that there is one man in the White House who will believe that one and that he is the reason for it.<<


18 posted on 01/28/2011 3:15:57 PM PST by B4Ranch (Do NOT remain seated until this ride comes to a full and complete stop! We're going the wrong way!)
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To: Signalman

Stocks were overdue for a down day.


19 posted on 01/28/2011 5:38:27 PM PST by Free Vulcan (Vote conservative! You can vote Democrat when you're dead.)
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To: Signalman

Stocks were overdue for a down day.


20 posted on 01/28/2011 5:38:46 PM PST by Free Vulcan (Vote conservative! You can vote Democrat when you're dead.)
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To: Signalman

and here I thought it was the “unexpectedly” low 3.2% GDP rise for 4qtr.


21 posted on 01/28/2011 5:53:01 PM PST by eyedigress ((Old storm chaser from the west)?)
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To: Walkingfeather
Unrest in egypt causes our stocks to tumble? Dont think so.

But you must admit, it's a damn good excuse for the insiders to pull the rug out on the unsuspecting.

22 posted on 01/28/2011 5:55:54 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: Conservative Vermont Vet

“Look for $4 (maybe $5 or even $6) a gal real soon, and if the Suez get’s closed, which is a real possibility, then all bets are off.”

As you’ve probably heard many times before - I hope you’re wrong, but I fear you are right.


23 posted on 01/28/2011 6:46:54 PM PST by MichaelCorleone (Sarah Palin is America's Margaret Thatcher)
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To: dragnet2

Good point. I remember hearing a story about the rothchilds. Apparently in england everyone was waiting to hear if napoleon won or lost the battle of waterloo. Rothchild sent out his people to get the news first. When word came back that Napoleon lost, he spread the rumor Napoleon won, the british market tanked, and he cleaned up. Of course it was too late when they discovered what he did.


24 posted on 01/28/2011 7:32:37 PM PST by Walkingfeather
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