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Dow futures tumble as Wall Street preps for meltdown
CnbC ^ | 8/24/2015 | Jenny Cosgrove

Posted on 08/24/2015 4:00:11 AM PDT by EBH

U.S. stock index futures screamed lower, with Dow futures (Chicago Board of Trade: @DJ.1) tumbling more than 400 points, as fears surrounding the health of China's economy multiplied.

These concerns saw the benchmark Shanghai Composite (Shanghai Stock Exchange: .SSEC) index notch up its biggest one-day percentage loss since 2007 on Monday, closing down 8.5 percent .

Panic spread to European markets, with the pan-European FTSEurofirst 300 (FTSE International: .FTEU3) as much as 3 percent in early London trading. All major bourses were off a similar amount. The index has shed over $1 trillion in market value in August so far.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Front Page News
KEYWORDS: china; commodities; futures; palinwasright; stockmarket; stocks
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To: Rusty0604

Loooook out beloooooow!


41 posted on 08/24/2015 5:16:08 AM PDT by RKBA Democrat (Voting is useless, and it makes you complicit.)
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To: lucky american

Don’t be so hasty there. My 401 is directly affected by the stock market. I didn’t Google how many Americans have them but I bet it’s quite a few.

And anyone with a pension like teachers, cops, private pensions are all invested in the market too. That’s a lot of people.


42 posted on 08/24/2015 5:19:31 AM PDT by Kozak (Walker / Cruz 2016 or Cruz/ Walker 2016 Either one is good...)
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To: Alberta's Child

When state and local public employee pension funds suffer losses the taxpayers end up paying for it.


43 posted on 08/24/2015 5:19:52 AM PDT by Rusty0604
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To: pgkdan

“Most working Americans have 401k accounts. I panicked in 2008 and made major changes after that crash. Should have sat tight and rode the market back up. Plan to do that this time.”

Good advice, I will be doing the same. If I can scrap any money together, I will be looking to buy stocks of solid companies at the bottom.


44 posted on 08/24/2015 5:19:59 AM PDT by 2001convSVT (Going Galt as fast as I can.)
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To: MayflowerMadam

Who is doing that?


45 posted on 08/24/2015 5:20:58 AM PDT by Rusty0604
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To: Rusty0604

Can’t recall the name of the man. At 7:30 a.m. today, Trump was being interviewed on Fox and Friends and one of the moderators told him about this economist’s statement. Trump, of course, had a response including something like, “I never heard of the guy.” You might be able to find a clip of the interview on the Fox News website if you want the person’s name.


46 posted on 08/24/2015 5:26:07 AM PDT by MayflowerMadam
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To: Farmer Dean
It will be a “correction” as long as the media and traders think the term is still viable. We may even see stocks rally for a time. It has happened recently, where stocks soared - the rallies were based on lies, QE hot air, and greed. Not sure what is going to happen, but it looks like the collapse of China's economy is infusing reality into the situation, and the Central Bank lies are not working this time.
47 posted on 08/24/2015 5:27:57 AM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: Rusty0604

When do they delay opening to slow/stop freefall?


48 posted on 08/24/2015 5:28:17 AM PDT by EBH (There's a sucker born every minute)
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To: MayflowerMadam

I would like to know the reasoning. Trump talking about making better deals with China? LOL


49 posted on 08/24/2015 5:32:02 AM PDT by Rusty0604
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To: Kozak; 2001convSVT

What I have long feared and anticipated is that if things in the markets get so bad, and the crash is deep and global, Obama will move to seize all 401Ks, IRAs, TSPs, and all pension funds. It isn’t a fantasy, Google and read about the plans they have already put into motion.


50 posted on 08/24/2015 5:32:25 AM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: EBH

I said bye bye to most of my stocks this morning.....while I was still green....


51 posted on 08/24/2015 5:35:48 AM PDT by eartick (Been to the line in the sand and liked it)
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To: EBH
Dammit! Where is that dang hat?
52 posted on 08/24/2015 5:36:05 AM PDT by Chgogal (Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
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To: pgkdan

I made the mistake and did not buy in when it was down.

Sitting tight is one thing. Selling early and buying back in when it has bottomed out is another


53 posted on 08/24/2015 5:37:35 AM PDT by eartick (Been to the line in the sand and liked it)
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To: Extremely Extreme Extremist

The question is - did some people decide it was time to pull the plug, or is this happening outside of their control?


54 posted on 08/24/2015 5:37:40 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: EBH
Watch for the NYSE to immediately implement the pre-November 2007 trading curb rules to slow down especially programmed high-frequency trading, and NASDAQ to adopt similar rules, both before the start of the trading day.

As such, we could end up with a situation where the US stock markets ends up closing way early for the day because the they tripped all the circuit breakers for an emergency trading stop.

55 posted on 08/24/2015 5:37:54 AM PDT by RayChuang88 (FairTax: America's economic cure)
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To: Kozak
My 401 is directly affected by the stock market

How long do you imagine it will be yours?

56 posted on 08/24/2015 5:39:37 AM PDT by Jim Noble (You walk into the room like a camel and then you frown)
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To: MeneMeneTekelUpharsin

The writing is on the wall for the economy :)


57 posted on 08/24/2015 5:40:11 AM PDT by Roman_War_Criminal (The Sun Never Sets on Liberal Idiocy)
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To: MichaelCorleone

I think we’ve been in “continuous QE” since about 2009.
My understanding is they’ve been creating 40 billion a month out of thin air that’s been used to prop up the market.


58 posted on 08/24/2015 5:40:54 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: SkyPilot

Theoretically speaking, what would happen if everything corporate tumbled to ZERO, that hypothetically, no corporate stock was any longer worth anything? Who would own it? Who could use the plants, name brands, etc., that remained? IIRC, a ‘corporation’ is a government approved entity, isn’t it?

Just wondering. I have no answer. I don’t know enough about it myself.


59 posted on 08/24/2015 5:41:06 AM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their Victory!)
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To: Rusty0604

Yeah; the reasons were given. Some had to do with China. Talk about grasping at straws.


60 posted on 08/24/2015 5:41:58 AM PDT by MayflowerMadam
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