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Dow Plunges 600, S&P and Nasdaq Sinks 6% [ -633 After Obama Speech ]
CNBC ^ | 8-8-2011 | CNBC

Posted on 08/08/2011 1:26:11 PM PDT by NoLibZone

Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.


(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Extended News
KEYWORDS: 0planners; 0police; 0socialworkers; 0teachers; 8811; 882011; aug82011; august82011; barrackolypsenow; debtmantalking; democrats; downgrade; markets; mondaymassacre; obama; obamadepression; obamadowngrade; obamageddon; socialistdemocrats; stockmarket

1 posted on 08/08/2011 1:26:17 PM PDT by NoLibZone
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To: NoLibZone

2 posted on 08/08/2011 1:27:26 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
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To: NoLibZone

This will go down as Obama’s Malaise Speech.


3 posted on 08/08/2011 1:27:37 PM PDT by Thane_Banquo
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To: NoLibZone

Thanks to Dems.


4 posted on 08/08/2011 1:27:51 PM PDT by petercooper (2012 - Purge more RINO's.)
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To: Thane_Banquo

Unexpected.


5 posted on 08/08/2011 1:29:10 PM PDT by fantom (,)
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To: NoLibZone

Gold = $1,716/ounce
Platinum = $1,720/ounce
Last time I saw gold and platinum this close was back in 2008 around crash time. At that time, gold was more expensive then platinum for a while. This is an interesting situation. One of these metals is going to have to move up or down I think. I think platinum will have to go up.


6 posted on 08/08/2011 1:29:59 PM PDT by RC one (whatever.)
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To: petercooper

not in the least.


7 posted on 08/08/2011 1:30:24 PM PDT by RC one (whatever.)
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To: NoLibZone

Mission
Accomplished


8 posted on 08/08/2011 1:31:04 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NoLibZone

Obama the Destroyer


9 posted on 08/08/2011 1:32:10 PM PDT by rightwingintelligentsia (Be careful of believing something just because you want it to be true.)
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To: Thane_Banquo

A Malaise Speech would be a sizable step up from what he did...which was just roll out the same old pap for the millionth time.


10 posted on 08/08/2011 1:33:47 PM PDT by Scott from the Left Coast
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To: NoLibZone
Oh my goodness!!!

The Dow down almost 6%! Nasdaq and S&P both down nearly 7%! Goodbye retirement...

11 posted on 08/08/2011 1:34:48 PM PDT by pgkdan (Time for a Cain Mutiny!)
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To: NoLibZone

The Obama Crash.


12 posted on 08/08/2011 1:35:12 PM PDT by Hacklehead (Had enough?)
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To: rightwingintelligentsia

How many trillions of dollars were destroyed today?...just up in smoke, gone, out of the economy.


13 posted on 08/08/2011 1:35:47 PM PDT by Scott from the Left Coast
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To: NoLibZone; All

TODAY WAS OBAMA’S KATRINA....

After Friday’s downgrade he did Nothing, ABSOLUTELY NOTHING AT ALL to calm the markets ahead of the Monday Open, while his media minions were trying to provide cover by saying “This means nothing, it isn’t important!” all weekend.

Like NAGIN, HE LEFT THE BUSSES TO BE FLOODED!


14 posted on 08/08/2011 1:39:21 PM PDT by tcrlaf (PREFRONTAL LOBOTOMISTS FOR OBAMA2012!)
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To: Scott from the Left Coast

Don’t worry, we’ll just print more!

/s


15 posted on 08/08/2011 1:39:30 PM PDT by KOZ.
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To: Thane_Banquo

What are you, racist or something?

Obama’s still up 17 percent from his inaugeration. That’s over 3 percent return a year!

Jimmy Carter was *down* 15 percent. So clearly Obama is better then Carter. ;)


16 posted on 08/08/2011 1:40:18 PM PDT by BenKenobi (Honkeys for Herman!)
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To: pgkdan

Check out the volume chart below the value chart ... there has been a week of MASSIVE selloff.

17 posted on 08/08/2011 1:40:39 PM PDT by ArrogantBustard (Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
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To: tcrlaf

This exchanged typifies ‘rat thinking:

Reporter: “Why weren’t the buses used to evacuate people?”
Democrat Senator Landrieu: “Because they were under water!”


18 posted on 08/08/2011 1:41:58 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: NoLibZone

19 posted on 08/08/2011 1:44:08 PM PDT by wheelgun ("... an unarmed man may be attacked with greater confidence than an armed man." - Thomas Jefferson)
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To: KOZ.

Sadly, I think that bubble up about an hour before the close was Treasury pumping billions of printed-up dollars in to support Obama after his ridiculous speech. Just more for our grandkids to pay off in slave labor.


20 posted on 08/08/2011 1:44:08 PM PDT by Scott from the Left Coast
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To: tcrlaf
Wait a minute....

Sure he did something...he ordered more $100 bills to be printed!!

Then he ordered dinner...scheduled a golf game for next week-end..and a vacation for whenever the going get's to rough.

So you see...he's doing something.

21 posted on 08/08/2011 1:45:44 PM PDT by Osage Orange (HE HATE ME)
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To: Scott from the Left Coast

The DOW has plunged 1,800 plus points since it became clear that Democrats weren’t interested in any real solutions.

AND YOU WILL NOT BE HEARING THAT on any non-FOX MSM broadcast tonite.


22 posted on 08/08/2011 1:52:10 PM PDT by tcrlaf (PREFRONTAL LOBOTOMISTS FOR OBAMA2012!)
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To: NoLibZone

It’s really amazing to read the letters to the editor of sheeple attacking the TEA Party for causing the downgrade isn’t it?

Even though the TEA Party opposed the debt deal more than any other demographic the MSM and libs excalimed it as a “TEA Party victory” for just this reason; they KNEW the downgrade was coming and that was the set up.

The RINO’s went ahead and threw the briar rabbit in the briar patch.


23 posted on 08/08/2011 2:09:23 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: NoLibZone

Anyone else notice the exactly 6.66% decline at S&P’s close?

Barakolypse Obamageddon confirmed, I guess...


24 posted on 08/08/2011 2:12:20 PM PDT by EasySt (2012... Sometimes you have to flush twice.)
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To: tcrlaf

Bravo!! S&P said it...cut, cap, and balance was the only plan that would have avoided downgrade. It was the ADULT solution to the problem and Harry Reid declared it DOA. The “intransigent” leftists declared anything that touched social programs a non-starter.


25 posted on 08/08/2011 2:19:24 PM PDT by ez ("Abashed the Devil stood and felt how awful goodness is." - Milton, "Paradise Lost")
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To: NoLibZone

“Heck of a job, Barry!”


26 posted on 08/08/2011 2:24:48 PM PDT by newzjunkey (the circular firing squad has got to end now)
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To: RC one

Last time I saw gold and platinum this close was back in 2008 around crash time.


The rule of thumb is that when gold=platinum, you should swap gold for platinum, because when you swap back, you’ll end up with a lot more gold than you started with.


27 posted on 08/08/2011 3:59:39 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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