The markets may be looking 6 months out and may not like what it sees....
Posted on 02/05/2008 2:45:56 PM PST by khnyny
Wall Street did not react well to new data showing the U.S. service sector unexpectedly and sharply contracted in January. The blue-chip index followed yesterday's sell-off with a much-larger 370-point plunge -- the worst loss on a percentage basis in nearly a year.
Today’s Market
The Dow Jones Industrial Average fell 370.03 points, or 2.93% to 12265.13, the Standard & Poor’s 500 index dropped 44.18 points, or 3.20% to 1336.64 and the Nasdaq Composite Index lost 73.28, or 3.08%, to 2309.57. The consumer-friendly Fox 50 dropped 29.84, or 3.06%, to 943.95.
Today's decline was steady and began just before the opening bell. The market received little if any positive news to work with today, leaving traders to take money off the table.
Wall Street closed at the lowest levels of the day and has now erased nearly all of last week's gains in just the past two trading days.
Today's 2.9% loss on the Dow was the worst since February 27, 2007.
(Excerpt) Read more at foxbusiness.com ...
Of course, market went down sharply on the day of the New Hampshire primary too. What a coincidence.
McCain’s got some good ideas regarding the economy, oh wait, he will, once he read’s Alan Greenspan’s book.
[Like Mike Huckabee, who joked recently that he “may not be the expert that some people are on foreign policy, but I did stay in a Holiday Inn Express last night,” McCain suggested to reporters Monday that American consumer culture offered a short cut to expertise. “The issue
of economics is not something I’ve understood as well as I should,” McCain said. “I’ve got Greenspan’s book.”]
http://www.boston.com/news/politics/politicalintelligence/2007/12/mccain_its_abou.html
Market smells loser candidates all around.....
Sure, the market plunged 370 points when traders learned that McCain and Huckabee cut a deal in WV.
Anybody up for a junta? That way we don’t have to wait for 2012 for Petraeus.
Oh yeah. Genius John said, "we need to pass the stimulus package".
Maybe he's confusing it with one of Cindy's toys.
Everyone needs to understand their market history. Pre-Roosevelt the stock markets fluctuated wildly. Roosevelt did a number of things to slow the market down. A number of those have been lifted as the market was deregulated after Reagan, in addition to the moderization like computer trading that speeds up the market.
Today’s market is much like it was 100 years ago. Don’t freak because we have ‘wild’ swings. They’re not that wild in terms of history.
Hillary cries. Markets go down. Once a month.
Mr. niteowl77
I wonder how concerned they are that RINO Romney might get the POTUS ????
It’ll be interesting to see what it does if a Dem gets elected POTUS.
“...If McCain can do that to the Dow, just think what he could do to the country...”
That you can count on.
The markets may be looking 6 months out and may not like what it sees....
What will the markets do if Ron Paul pulls out a win? ;-)
She's >60 years old. She should have gotten beyond that biological phase.
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