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Stocks Tumble at Open

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posted on Oct, 6 2008 @ 09:12 AM
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Stocks Tumble at Open


money.cnn.com

Stocks plunged at the Monday open after a deepening financial crisis in Europe heightened worries about a global economic slowdown.

The S&P, Dow and Nasdaq were sharply lower, following a broad sell-off around the world.
(visit the link for the full news article)




posted on Oct, 6 2008 @ 09:12 AM
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The Dow dropped 280 points on opening.

Watching it live, the DOW hit below 10000 for the first time since 1999. They are currently down more than 300 points and trading at around 10003.

Apparently the bailout didn't work. The overseas stocks didn't do well at all last night with the Russian trading halting several times.

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



posted on Oct, 6 2008 @ 09:19 AM
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Brazil, Russia and Irish markets have crashed today (10% drop)

Icelandic market has been suspended, Austria has halted trading now and again. Same with the Dutch too.



posted on Oct, 6 2008 @ 09:24 AM
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Yup, seems to be a worldwide selloff. Oil was below 90, gold going up, and several trading halts. Interesting day, wonder how all thos people who thought the Bailout Bill would save their 401ks feel now.



posted on Oct, 6 2008 @ 09:25 AM
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The market is fighting for its life.

Transnational banking parasites have removed all controls of merit and simply demand faith in their religion of choice 'The Almighty Credit".

The bottom line is this, their 'fractional reserve' scam has reached it's fruition. We haven't the resources to satisfy their demands of service on top of the money they created.

Too bad we can't all cast a vote of 'no confidence' and bypass their judgment and influence entirely.



posted on Oct, 6 2008 @ 09:31 AM
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I hate being right. I made a prediction several months ago that interesting things were going to happen when the dow went below 10k.

It appears that I was not mistaken.



posted on Oct, 6 2008 @ 09:32 AM
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reply to post by Maxmars
 


If only we could MM, if only we could....but ya know, frankly, those vested are already casting their 'no confidence' vote. Unfortunately THEIR vote doesn't really diminish their equity values as much as they would purport. Seemingly it only staves off their ability to FURTHER encroach upon the little guy's small but hard earned savings and deteriorate them.

Unfortunately our markets seriously do need to LOSE that battle for it's life to correct. If it win's and turns around, the price down the road will be exorbitantly higher and our children WILL pay a high price.

My sincerist heart-felt condolensces to those who ARE losing their retirements and nest eggs. I'm experiencing the pain, and I feel yours, however, we have to reconstruct this better than it was.

AB1



posted on Oct, 6 2008 @ 09:42 AM
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This is getting ugly.


Market down below 10k....nearly 500+ point drop.

The panic is now nearly complete:

Jim Cramer: Time to get out of the stock market






In what Curry called a “dramatic statement,” Cramer emphatically urged any investor who has money they may need in the next five years tied to stocks to pull their dough out.

“I thought about this all weekend,” Cramer told Curry. “I do not want to say these things on TV.

“Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe that you should risk those assets in the stock market right now.”



For the first time, I now feel today may be THAT day. The "D" day.

God, I hope that's wrong.


[edit on 6-10-2008 by loam]



posted on Oct, 6 2008 @ 09:44 AM
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Well, good thing the bailout passed huh?


This is crazy. I REALLY want Bush to address the nation and tell us he was wrong...WRONG WRONG WRONG! It will never happen, but hey, I can dream right?



posted on Oct, 6 2008 @ 09:45 AM
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And they are happily discussing on CNN what is ticking Sarah Palin ...

WTF



posted on Oct, 6 2008 @ 09:46 AM
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Originally posted by loam
This is getting ugly.


Market down below 10k....nearly 500+ point drop.

[edit on 6-10-2008 by loam]


-550 drop.

It's like watching a horrific train wreck. You just can't look away no matter how gruesome.

Sad.



posted on Oct, 6 2008 @ 09:47 AM
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London is down over 8%!




posted on Oct, 6 2008 @ 09:47 AM
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Oh don't worry...once it drops some more CNN will be all over it. They seem to love scareing the public (in this instance rightfully so). Give it an hour.



posted on Oct, 6 2008 @ 09:48 AM
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Actually, CNN is focusing on the near 600 point drop right now. I just switched from CNBC. Non-financial channels seem to be clued in now. All of em, MSNBC, FOX, and CNN talking about markets.

Caught a really cool/crazy conversation between an anchor and a pit corespondent on Fox Business. Anchor says something like "Well gold is going up, and we talked to this company last week, sales of safes are up". The pit corespondent says "probably a good idea and probably guns too".


[edit on 6-10-2008 by jefwane]



posted on Oct, 6 2008 @ 09:48 AM
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Originally posted by goldbomb444
Oh don't worry...once it drops some more CNN will be all over it. They seem to love scareing the public (in this instance rightfully so). Give it an hour.


I'm watching CNN, they've got the big board up and are talking about it.



posted on Oct, 6 2008 @ 09:49 AM
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I hope this is not going to happen. But I have heard "amateurs" who do VERY well in the markets say that the DJIA is headed to 5,000-7,500 range in the NEAR future. This is just the beginning of the great plunge.

Then what?



posted on Oct, 6 2008 @ 09:49 AM
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Well, now it is slowly creeping back up...hope it keeps going that direction!


sty

posted on Oct, 6 2008 @ 09:50 AM
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THE REAL QUESTION IS :Who is behind this all? Who will benefit? is this the pretext for a golbal domination?
In my country ( Romania ) we also had a drop of 10 % in one of the centers..

so my question again - who is behind this?



posted on Oct, 6 2008 @ 09:51 AM
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Just an FYI

Canadian markets show the TSX under the 10 000 points as of right now... I wouldn't be surprised to see mass panic start in not too long...



posted on Oct, 6 2008 @ 09:51 AM
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Just an FYI

Canadian markets show the TSX under the 10 000 points as of right now... I wouldn't be surprised to see mass panic start in not too long...



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