Skip to comments.US stocks fall sharply in early trading (DJIA -304)
Posted on 09/06/2011 7:50:35 AM PDT by markomalley
U.S. stocks are sharply lower in early trading. The Dow Jones industrial average dropped more than 260 points. All 30 stocks that make up the Dow average fell.
The losses come after steep declines in European indexes. The Stoxx 600 Europe index fell 4.1 percent on Monday because of concerns that Europe's debt problems could slow growth around the world. The index fell another 1.4 percent Tuesday.
The U.S. economy is also weak. A Tuesday report on the U.S. service sector is expected to show the fourth straight month of declining growth.
It follows a jobs report Friday that that found that no jobs were added to the economy in August. It was the worst reading on the jobs market since September 2010. The report sent the Dow Jones industrial average down 253 points, or 2.2 percent, and wiped out all of its gains for the week. The Dow is now down nearly 3 percent for the year
(Excerpt) Read more at hosted.ap.org ...
I guess they are waiting for some hocus pocus walnut shell moving trick from the WH. The market never does like being controlled by politics, it reacts, always, has a MIND OF IT”S OWN.
Under Bush, we had record market highs.
Under Bush, gas was $1.84.
Under Bush, food was 35% cheaper.
Under Bush, we only had 2 wars.
Under Bush, unemployment was only 5%.
Are we better off now than we were under George Bush?
Woe, dispair and agony. Look what they’ve done.
Obama has stated that he doesn’t pay attention to “the daily gyrations of the stock market”.
We could see a steep market decline as part of the backdrop for his big speech Thursday night.
I think he just wants to ignore what’s going on, and focus on clean green jobs, stopping the rise of the oceans, allow the planet to heal, and other liberal clap trap.
Not to worry.
We have really smart Ivy League grads in charge of the whole situation.
Hope ain’t hiring.
a 30 point dead cat bounce up to -270
and to think, QE2 was supposed to restore confidence in the stock market ....
Don’t worry, Obama is going to explain how to fix the economy Thursday night.
Happy times will be here again after that.
The daily chart looks ugly as hell.
It’s getting scarier and scarier out there. Makes you wonder about the value of being in the market at all, in spite of all the patter about how the stocks will outperform bonds, etc.
if obama was in charge of a more “primitive” society, Ben Bernanke would be covered in honey, staked out on an anthill
I wonder if his faithful followers, the unions, are aware of what his Obomanomics plan is doing to their retirement money. He's bleeding them dry.
Should we tell them?
the unions think they know where to get more money - from you
just kill the tea party SOB’s if they show signs of resistance to raising taxes
Several experts that I read their articles and listen to their podcasts keep making the comment that our current situation is looking more and more like a repeat of late 2008, only this time it may be the European banking system that takes us to the edge (if not over the edge) of the abyss. I gotta admit, it’s looking more and more that way to me as well.
Some of us will not be so easy to kill off.
Keynes was so right on this one.
Happily, Apple seems to avoiding the bloodbath.
Doesn’t exactly help to hear that FORD is building a new plant . ..in India ...creating 5,000 jobs . . .in INDIA.
Forget the US. Greener pastures elsewhere, i suppose.
When the market drops sharply on Friday in response, he’ll blame Republican traders. “
Most of them gave to his campaign.
Obama will blame the coming market crash on GOP resistance to another huge stimulus to create “jobs”
He will blame the republicans who resist further deficit spending, for putting rich corporate executives and hedge fund traders ahead of the "working people", for putting their party ahead of jobs for the middle class and for putting special interests and big oil ahead of the country
He will try to make it "unpatriotic" to resist even more of HIS (failed) ideology of trillion dollar slush fund spending on special interests
He will blame the Tea Party for holding “hostage” those “moderates” in the GOP who would otherwise be willing to “compromise”
I am not a speechwriter for TOTUS but I did stay in a Holiday Inn Express one time
Doesn't look like "change" is doing much hiring either.
They’ve got the public brainwashed to believe the current systemic “banking” and so called “insurance”, should be called “industries”.
Watch for the next round of Bribe for Bailout by the systemic tentacles.
“( - - - I am not a speechwriter for TOTUS but I did stay in a Holiday Inn Express one time - - - )”
I think only Porky Pelosi and Reid-in-the-wind are his speechwriters.
Yeah, the person I was listening to on a podcast yesterday talked about how the european banks had gotten themselves into such a mess by buying up all the PIIGS junk status bonds, and so what does our idiot American banks do? Why they sell the EU banks credit default swaps as insurance to back those junk bonds. You are correct. The idiocy in the global banking "industry" is systemic. When it goes down the tube, it's ALL gonna go down the tube at the same time.
We're not that advanced. Clover honey is readily available. The south has wonderful hills full of fire ants. I'm sure an accommodation can be made.
GE is moving the headquarters of it’s medical imaging division to China. So much for the high tech jobs of the 21st century.
Yeah, I get it. It’s just sad that it’s not here, with so many unemployed.
Sad for America that we are basically Going out of Business as a country.
Time to clean house of all of these “barriers” to good business.
You couldn’t have Obama without Bush. The last three Presidents of the US have proven disastrous.