Skip to comments.Dow plunges 733 as new data points to recession
Posted on 10/15/2008 1:52:49 PM PDT by prolifefirst
Despair over the economy sent Wall Street plunging again Wednesday, propelling the Dow Jones industrials down 733 points to their second-largest point loss ever. Stocks fell on a combination of disheartening economic data, including a big drop in retail sales and a Federal Reserve report that said tight credit conditions are hurting businesses across the country.
The government's report that retail sales plunged in September by 1.2 percent -- almost double the 0.7 percent drop analysts expected -- made it clear that consumers are reluctant to spend amid a shaky economy and a punishing stock market.
The Commerce Department report was sobering because consumer spending accounts for more than two-thirds of U.S. economic activity.
(Excerpt) Read more at biz.yahoo.com ...
Points? Hell it’s lit up in neon!.................
panic,fear, now comes the talon's of a tyrant hawk.
Silver lining maybe:
Big debate audience ensured so that if McCain wins debate then lots of people will see it.
So much for Monday’s gains.
AP already has the stories written and ready to post about how poorly McCain did.
Wait, I thought if they passed that bill all would be fine!
NOW all Obama will need to do tonight in the debate is mutter ... uh uh uh ... failed Bush economic policies ... uh uh ah ah ah ... McCain voted with Bush ... uh uh uh
How will today’s performance influence investors for Wed & Thu?
How big an October surprise would we need to cut through the recession noise?
the only thing that protects us is that there is no money left to pay for ANYTHING!
The Community Organizer wont be able to provide more giveaways because there simply isnt any money to pay for it.
in your eyes maybe, in mine, weapons will be the only thing to protect us.
We paid for WWII and the Marshall Plan coming off of the Great Depression.
Profit taking today, poossible run up to the end of the week.
This volatile market is a trader’s dream come true.
Republicans, ALL elected Republicans, need to go on the offensive about who and what caused the current financial crisis. Only then will it cease to have the negative effect it’s having on McCain. They’ve gotten away with “failed Bush economic policies” for too long. It needs to be jammed back down their throats.
Are any of you Freepers with money still in the market considering going cash based on today?
Your right. “Our Focus Group says Obama won”, “Our instant poll says Obama won”, “McCain did nothing to close the gap”, “Obama sounded hopeful and spoke to the needs of ordinary Americans.”, “Obama looked Presidential”, this is what I guarantee every network says. Book it.
At the beginning of the 5 pm ABC radio news report, Charlie Gibson announced the stock market numbers, saying its the second worst point drop ever. No sign of recovery.
Stories reported on:
An attack from Acorn on the Right Wing - quotes from an Acorn lady saying the Right Wing is trying to disenfranchise minorities.
Then at the end of the report?
Gibson announced again the stock market numbers, saying its the second worst point drop ever. No sign of recovery.
A couple of reports later, the same thing... no sign of recovery, stock market drops... then again same story.
I’m not sure. I think it’s going to be up and down for awhile.
“Are any of you Freepers with money still in the market considering going cash based on today?”
I am back to day trading and making a killing! I love volatile markets! The swings are fantastic! 10%-90% gains one week, sit on the cash until the next. Timing is everything, but with good timing and a little luck, there are a few bucks to be made here.