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The Dow drops 300 points after only 60 mins of trading (After Vote Bill was defeated)

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posted on Sep, 29 2008 @ 08:52 AM
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Is anyone else watching wall street this morning. With the house debating the bill with a plan to vote at 12:00.

But the DOW is dropping like a brick(already down 200 points) this morning apparently as fears grow that the bill will not pass. The house is debating right now and it looks like this bill is not going to fly when the vote comes around, and it seems as if wall street is feeling this.

Will the market survive through the day if this bill is a no go. What do you guys estimate the Stocks will do by end of trading if come 1:00 the votes say NO to the bill?

Or do you think it will even make to the end of the day. If things keep dropping they are estimating perhaps even an emergency halt to trading.



[edit on 9/29/0808 by Trayen11]

[edit on 9/29/0808 by Trayen11]




posted on Sep, 29 2008 @ 08:53 AM
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Oh boy, here we go. Who needs a 401k anyways right?

Edit, down 265 now!


[edit on 29-9-2008 by Karlhungis]



posted on Sep, 29 2008 @ 08:55 AM
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down 336 at 25 mins of trading. dow now at 10810. wow....



posted on Sep, 29 2008 @ 08:55 AM
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LMAO

I just recieved a good chunk of money as severance pay from my previous employer, wonder how much it's even goin to be worth in a month from now.



posted on Sep, 29 2008 @ 08:55 AM
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I will not be surprised that the markets will react negatively to this bill, why? because the countries that lend money to the US, the Asian bankers Japan and China, knows exactly what this bill will do to the American national debt and to the dollar.

Will China and Japan keep investing in a worthless currency?

We will see in the weeks to come when the debt goes in the auction block for sell.



posted on Sep, 29 2008 @ 08:56 AM
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Originally posted by tylerc25211
down 336 at 25 mins of trading. dow now at 10810. wow....


Dropping like a f-ing brick. CNN analysts were hinting at this on sunday. The feel is even if by some miracle the bill gets passed it's doubtful the bail-out will do nothing more than maybey give wallstreet a week of normal trading.



posted on Sep, 29 2008 @ 08:57 AM
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Wow, almost a 100pt free fall in under a minute. What is the limit before they stop trading? 10% drop isn't it?



posted on Sep, 29 2008 @ 08:58 AM
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What will the DOW fall to before they halt trading?

Bloomberg.com now has it at -331.81



posted on Sep, 29 2008 @ 08:58 AM
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I thought it was a bit OTT to start a thread just to cover day-start losses, but I changed my mind when I saw this:





This is ridiculous, I have never seen a graph dip so sharply.



posted on Sep, 29 2008 @ 08:59 AM
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I will try to keep the Title of the thread up to date within 15 mins.....300 points in an hour, i dont even think I have ever seen that before.



posted on Sep, 29 2008 @ 09:00 AM
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The S&P 500 is down harder as I type this. It's down around 3.25% right now. Nasdaq down around 3.5%.

[edit on 29-9-2008 by jefwane]



posted on Sep, 29 2008 @ 09:00 AM
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Originally posted by Maya00a
What will the DOW fall to before they halt trading?

Bloomberg.com now has it at -331.81


I believe it's a ten percent drop in a certain amount of time and then they declare an "emergency" and halt trading.

My question is this...if they halt it will it really do anything cause once they open it again whats stopping it from bombing again once they open it again.



posted on Sep, 29 2008 @ 09:02 AM
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I love Bush


"We need to pass this bill to prevent economic damage"


uhhh to late.



posted on Sep, 29 2008 @ 09:04 AM
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I fell into, into the burning ring of fire
I fell down, down, down, down into the deepest mire
and it burns, burns, burns, burns
the ring of fire



posted on Sep, 29 2008 @ 09:07 AM
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reply to post by Trayen11
 


Trayen, just copy that graph link I posted into your first post. It is being autoupdated by bloomberg analysts... it will be constantly up to date.



posted on Sep, 29 2008 @ 09:09 AM
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Here's a link to the NYSE and its rules on trading halts.

NYSE trading halts

As you can see, time of day and amount of drop play into how things are halted.



posted on Sep, 29 2008 @ 09:11 AM
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The markets has been played with to hurry up and instill more fear into congress.

Once this bill passes we are going to be faced with the worst inflation to ever hit the hard working tax payer.

But guess what, the bankers will get their money at the expenses of the tax payer after all.

How much can you inflate the markets with fake liquidity that will depend on how much borrowing the US will do from the Asian bankers and the tax payer.

Scary times ahead.



posted on Sep, 29 2008 @ 09:14 AM
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Originally posted by bismarcksea
I fell into, into the burning ring of fire
I fell down, down, down, down into the deepest mire
and it burns, burns, burns, burns
the ring of fire


And here I thought that song was about an STD.

On Topic:
Today should be a fun roller coaster ride in the markets...unless it drops so much trading is halted.

I say let them crash then burn the ones responsible.



posted on Sep, 29 2008 @ 09:16 AM
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FTSE is also down 3.7%.





posted on Sep, 29 2008 @ 09:17 AM
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reply to post by RemusUK
 


Thats more to do with Bradford and Bingley's nationalisation. £40bn of toxic assets "bought" by the taxpayer, while Santander takes the profitable deposit books and branch network. What a crap deal struck by Brown yet again.



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