Posted on 10/09/2008 12:59:03 PM PDT by Red Badger
The Dow Jones industrials fell under 9,000 this afternoon for the first time since the summer of 2003 as investor confidence that markets would stabilize appeared to collapse. At 3:40 p.m. ET, the blue chips were down 641 points, or 6.9%, to 8,617. The Standard & Poor's 500 Index was off 74 points, or 7.5% to 911. The Nasdaq Composite Index was down 94 points, or 5.4%, to 1,646. The S&P fell under a closely monitored support level of 960. A support level is important because it is supposed to trigger new buying. At those levels, the crash of 2008 has left the Dow 39% below its record close of 14,164.53 and the S&P 500 down 41% from its record close of 1,565.15. Ironically, both records were set exactly one year ago today.
(Excerpt) Read more at articles.moneycentral.msn.com ...
14000-25%=10500............YEP, GONE..............
Marx didn't think much of privately held wealth.
The Dems have found a solution that does not involve war, that's all.
Panic selling!!! Buy High, sell low!
bump
They did the same thing with the housing market. They flooded the system with fraudulent loans, and caused the same type of confusion.
In order to create a new society, you must destroy the current society first. Then the people will cry out for a savior. Be that savior God or the devil, they will except him.(Note how the left tried to portray Oboma as a savior or messiah).
Well....we have long way to go before we reach April 1st 1932 levels.../s
Burn, baby, burn.
OK, so now I’m pretty sure we’ve been had.
The bailout bill was just an attempt to provide political cover to the politicians in Washington. Passing a rescue bill, before the crash, inoculated the politicians from any blame whatsoever.
Right. I want Barney Frank and Chris Dodd to share a jail cell.
I feel bad for honest folks like you who are getting screwed. I had deferred comp when I worked. Most of it was in guaranteed savings, and the rest, which was very little, was in mutual funds (very low risk). I lost a few bucks after 9/11, and made some back before I retired in 2003. I took it all out then and paid off my car and credit card bills, plus had money to live on while waiting for my pension to kick in. Not that it was that much, because I did get penalized. I wish you well friend and hope the market turns around soon for you.
“A Democrat scandal if I’ve ever seen one.”
It should be...but it won’t be. You will hear, “it happened on George W. Bush’s watch”, Wall Street greed...even that asshat Juan Williams blamed Bush for the mortgage crap. He said, something to the effect, it had to do with Bush’s concept of a “ownership society.” Once again the Democrats walk away unscathed. Clinton got no blame for 9/11 and Bush will get all the blame for this financial mess.
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Wow..
Black Friday awaits. Who is going to have enough nerve to ride out another weekend. They always announce some bad news after the close on Friday..and some rescue over the weekend.
And Osbama and his Rat clowns are talking about messing with what is left of our 401k’s.
At least the price of copper and lead have gone down.
In the last year the market has fallen 30+%. The hysterical media is driving this too.
Could all this market business be tracked back to GEORGE SOROS since he has tanked the British economy in the past???
with ya...401k down 30% in the past month...not counting todays losses....i would have been better to close it out and pay the penaltys...
My friend, “Pain is just weakness leaving the body.”
The market supposedly closed 10 minutes ago and the average is still dropping. WTF?
Tempted to reach for my BASEBALL BAT and find a CONGRESSCRITTER!................
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