Dow tumbles over 200 points

Dow tumbles over 200 points

money.cnn.com

NEW YORK (CNNMoney.com) -- The Dow industrials tumbled over 250 points in midday trading Wednesday as investors juggled a host of worries, including near-$100 oil prices, bleak results from General Motors and more weakness from the financial sector.

The Dow Jones Industrial average (Charts) had fallen 250 points, or about 1.8 percent, with less than 3 hours remaining in the session.

(visit the link for the full news article)

I'm not a market man but I just saw this on the news. I remember hearing how bad $100 a barrel oil would be but I suppose this is a reflection of that. So for those of you more enlightened than I. What does this mean and what are the consequences?

money.cnn.com
(visit the link for the full news article)

The market...

Hasn't closed yet...

Unfortunately, at the time you have posted this, we are already below 300 points. :shk:

Oil really hasn't even moved that much today, it was down I think 2% earlier, but is closing back up to the amount it closed at yesterday. One of the biggest hits I think today was due to the GM loss that was announced.

MM: Hey, I wouldn't be upset over a nice little rally at the end to pull things up, it just looks like today we are going to have to deal with what it may settle at and count on tomorrow looking brighter.

I would be more than glad to be wrong, expecting it to close below 200 points today.

[edit on 11/7/07 by niteboy82]

niteboy: i recognize the sumo bag ad image. why would you deface a picture of such a pretty girl with bush's mug? =)

Originally posted by niteboy82
Unfortunately, at the time you have posted this, we are already below 300 points. :shk:

Make that nearly 400 points

(again, tomorrow is probably gonna be ugly)

Down market isn't a bother to me...

Originally posted by niteboy82
MM: Hey, I wouldn't be upset over a nice little rally at the end to pull things up, it just looks like today we are going to have to deal with what it may settle at and count on tomorrow looking brighter.

I'm buying.

uk.finance.yahoo.com...

Some scary looking numbers there, especially surrounding banks and financials

We've seen this coming for months now. It is no big surprise. Citibank tanking on bad loans. The gov printing money like a press on coke to fund the war machine. This is no surprise. With the spike on oil we may very well be heating the bedroom with worthless dollars. The barter system may very well be reality soon. Thanks W, thanks alot, you and Cheney rock. Why don't you go quail hunting together! On a much more human note, where are all these exiled families and individuals going to go? Who will be there to help them? Our government? Unlikely for the long term. Anyone who doesn't see our economy tanking regardless of the sexed up book numbers is delusional.

[edit on 7-11-2007 by jpm1602]

Looks like it closed down 360

Wall Street suffered its second big drop in a week Wednesday, with investors worried about spreading fallout from the credit crisis at banks and about a dollar that just keeps getting weaker. The Dow Jones industrial average fell more than 360 points just about matching its plunge of last Thursday.

A passel of worries tormented investors, including the dollar, which swooned amid speculation that China will seek to diversify some of its foreign currency stockpiles beyond the greenback. Meanwhile, a record loss from General Motors Corp. owing to an accounting adjustment further dragged on sentiment.

ABC News

[edit on 7-11-2007 by xEphon]