Dow Now Down Over 220 As Europe Explodes (now down over 500)

The Business Insider ^ | 5-6-2010 | Gregory White

[blam]

Dow Now Down Over 220 As Europe Explodes

Gregory White
May. 6, 2010, 2:09 PM

The Dow is down 2.0% on worries over the European sovereign debt crises as investors move into less risky assets. Gold is up to nearly 1200.

Volatility on the S&P 500 is up as well, over 13.09%:

The center of all this, the euro, down against the dollar over 1.1%:

[snip]

[Jack Hydrazine]

The PIIGS are defaulting on their bonds and loans!

[Travis McGee]

Very wild day for gold.

[prairiebreeze]

Forbes is advising: turn off tv, walk the dog and ride out another one.

Of course they'd say that.

[pleikumud]

When is the Jackass Obama going to resign? He’s done so much damage already!

[raybbr]

Can you make changes to allocations of your 401K? Just before the last fall I put it all into the money market and when the market went down 30% I was still earning about 4%.

[a fool in paradise]

Never let a crisis go to waste...

[AndyJackson]

There is well establised resistance level at 1200, and that baby is gong to be in free fall pretty soon. I would take my profit and get out now. [/s]

[pgkdan]

I can’t unless I quit my job.

[Drill Thrawl]

I did the same but the problem is it’s all paper. Unless we can get it out and put the money into tangible assets I don’t think it going to matter. It might be worth the penalty if there is someway you can get it out.

[blam]

Fox News ticker is showing the DJIA down 391.

[Gvl_M3]

Now down 415.

[newfreep]

[DoughtyOne]

E. U., P. U., U.S., a mess...

[b4its2late]

408 now...

[Liberty Valance]

-407

[newfreep]

BO regime moving to take control of 401-K accounts - “that employers cannot be relied upon to adequately manage the 401(k) retirement accounts it provides for their employees, therefore the federal government will relieve them of that responsibility and take sole discretionary control of those funds, thus eliminating the risk of mismanagement.”

http://www.freerepublic.com/focus/f-news/2507828/posts

[Buckeye McFrog]

when Barack hooks-up with the Euros and Latin America, forms a Debtors Cartel and then tells the Asians that we are all broke...THAT will make things interesting!

[OCCASparky]

Beginning of the “double dip” recession?

[ErnBatavia]

-453

[OCCASparky]

Wish like hell there was something I could do to protect my 401k.

Aside from cashing it out and taking the hit now, rather than risk Obumbles taking it away from you later? Talk about your devil's choice...