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Thread: Stocks pile on losses amid worries on economy

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    Caution Stocks pile on losses amid worries on economy

    Ohhhhhh NOOOO!!!!! This is bad this is BAD!!!!!

    Dow drops 350 points; markets 'fear index' highest since March

    Worries about the state of the economy in the U.S. and around the world slammed stocks on Thursday, pushing the Dow down 350 points. Gold and bonds soared as investors sought a safe place to park their money.
    The Dow Jones industrials average slid about 3 percent. The broader S&P 500 index was down 10 percent from its May high, putting it in correction territory. The market's so-called "fear index," the CBOE Volatility Index (VIX), jumped 12.8 percent to 26.37, the highest since March.
    "The (economic) numbers are not coming in favorably. They haven't been, and this is a reaction to all of that. We're in a major correction..." said Joseph Cangemi, managing director at BNY ConvergEx Group in New York.
    Investors are now nervously focused on the crucial monthly jobs data to be released Friday by the Labor Department. Expectations are not high.
    CONTINUED: Stocks pile on losses amid worries on economy - Business - Stocks & economy - msnbc.com
    Last edited by The Giant Noodle; 08-04-11 at 01:17 PM.
    CORPORATE GREED AND UNION GREED
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    DESTROYING THE BEST OF AMERICA ONE DAY AT A TIME

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    Re: Stocks pile on losses amid worries on economy

    Yes, thank you Republicans. Much appreciated. Has the term "Hoover Town" been copyrighted?

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    Yes, thank you Republicans. Much appreciated. Has the term "Hoover Town" been copyrighted?
    Ask Apple... no wait that would be iHoover Town
    PeteEU

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by AdamT View Post
    Yes, thank you Republicans. Much appreciated. Has the term "Hoover Town" been copyrighted?
    The fall of the USA continues. No amount of money could buy this much entertainment.

    .

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    Re: Stocks pile on losses amid worries on economy

    350 points is not a big drop. Fluctuations like that happen every day. So the panic is misplaced.

    Here is the last two years of stock performance:

    Untitled.jpg

    So, yeah, pretty awesome performance. It has doubled since it's low just 6 weeks after Obama took office.

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by teamosil View Post
    350 points is not a big drop. Fluctuations like that happen every day. So the panic is misplaced.

    Here is the last two years of stock performance:

    Untitled.jpg

    So, yeah, pretty awesome performance. It has doubled since it's low just 6 weeks after Obama took office.
    NO, fluctuations like this do NOT happen every day....

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by Gill View Post
    NO, fluctuations like this do NOT happen every day....
    agreed. (GASP!)

    the market is in a correction.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by Gill View Post
    NO, fluctuations like this do NOT happen every day....
    At the moment, the DOW is down two hundred and some points for the day. That's not that odd. I'm finding 31 days in the past 2 years where the market moved more than 200 points in a day. About evenly split between down and up, although overall obviously the trend has been way up. Ups tend to come in lots of days with small gains more.

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    Re: Stocks pile on losses amid worries on economy

    Quote Originally Posted by teamosil View Post
    At the moment, the DOW is down two hundred and some points for the day. That's not that odd. I'm finding 31 days in the past 2 years where the market moved more than 200 points in a day. About evenly split between down and up, although overall obviously the trend has been way up. Ups tend to come in lots of days with small gains more.
    31 days out of 730 days, or 4% = very unusual.

    And, as of one minute ago it was down over 300 points and all gains for the year are gone, at least for now.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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    Re: Stocks pile on losses amid worries on economy

    If it was just today it wouldn't be that big a deal but there have been three-figure drops on many days over the last few weeks. All of the savings republicans wanted to force in this debt ceiling fiasco? Just vanished.

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