Posted on 09/22/2011 9:49:15 AM PDT by TigerLikesRooster
Sept. 22, 2011, 12:12 p.m. EDT
Dow off 400 on Europe, growth worries
Federated’s Orlando watches 1,100 level on the S&P 500
By MarketWatch
NEW YORK (MarketWatch) — U.S. stocks slid sharply on Thursday, extending losses for the Standard & Poor’s 500 Index into a fourth day, as Wall Street’s worry about Europe’s debt trouble and the global economy intensified.
The negative sentiment taking hold among investors is “driven by the bank runs in Europe, and some of the European banks are rumored to be looking in the Middle East for capital, it’s like a replay of 2008 for some of the U.S. banks,” said Charlie Smith, chief investment officer at Fort Pitt Capital.
Smith also points to Europe’s solvency issues, saying Greece is not a major issue, given “it’s only 2% of the euro zone, but Italy would be.
(Excerpt) Read more at marketwatch.com ...
P!
“driven by the bank runs in Europe...”
What the...?
Yes, it’s Europe and the “global economy” line again.
Perhaps the market is reacting to our incompetent President and Bernacke’s statements yesterday? Nah, couldn’t be, it must be Europe (again).
Trading volume’s sure low right now.
BULLSHIT. Off because of the horse's asses in Washington...particularly in the white house.
“Europe” appears to be the new “unexpected”...it has to make it somewhere in each economic article
Down 379 right now.
Yet another Obama rally.
I read articles yesterday and today mentioning that Seimens and Lloyd's of London have been siphoning some of their cash holdings out of European banks recently trying to lessen their exposure to the tenuous situation with banks at risk in Europe. Sounds to me like the bank run is starting with some of the big players making the first moves, but that's JMO.
366 now.
It looks like it is thinking of doing its end of the day “snap out of it” thing. I’ve noticed a lot of times the market will make a fairly wild move at the beginning of the day (up or down), hover around there all day long, and then in the last half hour, go right back to where it started, ending up or down only 5 or ten points. It’s kinda funny and sometimes very predictable.
So, it will end the day down about a hundred? 8-P
There was a headline on Yahoo Finance today blaming China for the market drop.
BULLSHIT. Off because of the horse's asses in Washington...particularly in the white house.
I got out of the market 2 years ago. I figured that as long as Obozo was in the White House, the markets were going to suck. I’ll get back in when a Republican wins next year.
BULLSHIT. Off because of the horse’s asses in Washington...particularly in the white house.
You don’t have that choice of reason.
It is either Bush or Europe - that is your only two choices for the market check A or B;)
Yeah...it’s pure ‘cover obama’s ass’ bull sh*t! When traders get worried about Greece, Europe or the stability of the Euro they run to America. Dollars or stocks.
Everyone all over the globe are making moves that say panic. 350 down on the Dow seems mild.
burp europe.
***...and some of the European banks are rumored to be looking in the Middle East for capital***
Why would that be? Just the other day several central banks told them they could have all the dollars they want for the next three months.
Which story is untrue?
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