Dow sheds 200 points on Greek default fears

Dow Sheds 200 Points on Greek Default Fears

Greece only makes up 0.3% of the global economy, but it's causing a global stock market sell-off, including in the United States.
The Dow shed 200 points late Monday morning, the S&P 500 fell 1%, and the tech-heavy Nasdaq lost about 1.25% in early trading. Asian and European markets are even deeper in the red. Germany's main DAX index is down over 2.5%.

Do you think this could be the beginning of the next global meltdown?

a reply to: BattleStarGal

I'm waiting to see my Bitcoins spike in value.

Most people agree: BTC Price will increase
a little but then retract

"Bitcoin prices have risen approximately 10% in the last two weeks, the most upward movement in months."

However, the situation is different now over more than two years ago, with tens of thousands of merchants like Dell, Microsoft and Expedia selling BTC for fiat currency. This is done on a daily basis, to pay daily expenses, creating constant downward price pressure. This certainly wasn’t the case globally in March of 2013.

Prices are up, interest in Bitcoin is up, and another looming economic collapse is a recipe for incredible highs for currency speculators. Should anyone expect US$1000 bitcoins by August? No, but don’t be surprised if history repeats itself, and bitcoin gains much more than the current 10% increase.

cointelegraph.com...

Yes this is the start but the real show will start in China

a reply to: BattleStarGal

OP, link is broken money.cnn.com...

Well, the seven year economic cycle has some data to back it up. We've been on the up and up for a while now. A correction is probably necessary. Let's hope the real chaos lies elsewhere in the world, and we end up an overall winner even if a correction is at hand.

a reply to: FamCore

Thanks......Link should be fixed now.

Dow is now almost down 300. But gold is up 6%. Silver is down slightly.

a reply to: BattleStarGal

The same people who pull their money out when they are scared are the same people who then buy back when its low..thus causing the market to raise again.

I really think it would be best to stop delaying the inevitable, and have Greece exit sooner rather than later. Putting it off isn't going to help anything.

They just announced that Greece will default on its 1.6 billion pymt. People making a run for gas now.

Dow is now down 297.

Which country will be the next domino?

originally posted by: butcherguy
Which country will be the next domino?

My guess would be Portugal, then Spain. Maybe Italy after that. Who knows? But this is what they're worried about; that Greece default sets a contagion in motion and more countries exit the EU.

Time to stock up on canned beans and air freshener.

part of the decline in the dow could be because people might be fleeing from the Euro to the dollar which would increase the value of the dollar and thus the stocks would be worth less dollars, don't really see where there's a real way to tell how much is because the value of the stocks have decreased or it's just the value of the dollar rising ,

then again the markets usually don't make much sense anyways so well, who knows.

DOW is down 344 points.

All of a sudden the news articles about Greece look exactly like they did in 2010 and 2011.

Looks like the economy is #ting again because we are still doing the same s***

here's how the market looked like at the close....
www.marketwatch.com...

a reply to: jimmyx

You can see it better here with the MIB and the DAX


www.sgxniftydowfutureslive.com...

a reply to: dawnstar


the drop in USA Exchange is because of the ~uncertainty~ factor with Greece as related to credit/debt infusions of cash by the 'financial system' via EU, ECB, World Bank/IMF/BIS as-the-last resort...

but mostly because a Greek referendum vote on accepting really bad Austerity measures, reductions in pensions, seizing of resources by the lenders ~~~~~~~~~ which the Greek voters will vote down in a 80-20 split...
so the money changers will be spit on

the uncertainty is IF the banks/finance system keep the Greeks against-their-will... and will be forced to stay in the EU and Euro and NATO (for this first time around)

but there will be another Greek default before the end of 2015 and the Fascists/Progressives will not be able to keep the lid-on-the-pressure-cooker, and keep the Greeks docile---that's when Greece breaks ties with EU/NATO/ and goes Russian/BRICS/AAIIB ....

originally posted by: Cauliflower
a reply to: jimmyx

You can see it better here with the MIB and the DAX


www.sgxniftydowfutureslive.com...

the "footsie MIB" took it on the chin.....for those with big steel cahones....look to buy on thurs or fri...smart money might be doing the same thing