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Stocks extend plunge on concerns about Greece

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posted on May, 6 2010 @ 01:53 PM
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Stocks extend plunge on concerns about Greece


news.yahoo.com

NEW YORK – Stocks are plunging as investors give in to fears that Greece's debt problems will spread and halt the global economic recovery.
The Dow Jones industrial average is down more than 870 points and Treasury prices are soaring. Computer program selling is intensifying the selling.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
(visit the link for the full news article)




posted on May, 6 2010 @ 01:53 PM
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Well, it's fluctuating a lot, I've seen it go as low as 980 over the past couple of minutes, and all the way back up to 500. I just hope it doesn't fall even more before the end of the day.

Looks like Greece is affecting a lot of stuff. Here's hoping that I don't have to sell off my own stocks lol.

news.yahoo.com
(visit the link for the full news article)



posted on May, 6 2010 @ 01:56 PM
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The stock market should be trading at around 7000. Why anyone is playing the wallstreet game right now is beyond me. The US economy is in for a depression. Just wait. Unemployment is going to get rough this summer. Dow is up for a HUGE correction.



posted on May, 6 2010 @ 02:00 PM
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Ihope it all goes to hell.



posted on May, 6 2010 @ 02:01 PM
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reply to post by Zosynspiracy
 


I personally play the stock market because I find it interesting & exciting. Thankfully I don't put a whole lot into it, but enough to keep me in the day-to-day of the market.



posted on May, 6 2010 @ 02:04 PM
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reply to post by Destiny Of Souls
 



Tnis fantasy can't go on much longer. It is not something that can continue, and everyone, everywhere knows it.

It's time to go back to the barter system, as people realize money really does mean nothing!



posted on May, 6 2010 @ 02:05 PM
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Originally posted by pryed -eyed-one
Ihope it all goes to hell.


Here-Here! It would finally tell the world it is time to wake up! Hopefully there will be revolutions and coup d'etat across the world. We need change we can believe in



posted on May, 6 2010 @ 02:41 PM
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Originally posted by Misoir

Originally posted by pryed -eyed-one
Ihope it all goes to hell.


Here-Here! It would finally tell the world it is time to wake up! Hopefully there will be revolutions and coup d'etat across the world. We need change we can believe in


Oh yes, global chaos and lawlessness would be SO much better. Let's all devolve into ravening hordes!



posted on May, 6 2010 @ 02:43 PM
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Originally posted by cagliostro


Oh yes, global chaos and lawlessness would be SO much better. Let's all devolve into ravening hordes!


As much as you make fun, this is coming to a country where you live, soon!

People are waking up to the reality of paper is paper, and there will be quite a lot of people upset when they realize that it's as good as toilet paper.

The times are coming when you will see just how lawless people can be, when they have no way to live.

Which side of the fence are you going to be sitting on, then?



posted on May, 6 2010 @ 02:46 PM
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I smell a rat here in this drop. I don't think that the Greek crisis is the real cause, but rather that some market manipulators were using that crisis as cover for some massive fraudulent set of trades, first to drive down the market, benefiting from huge short holdings, then to convert trades to the upside, and collecting on the rebound.



posted on May, 6 2010 @ 02:46 PM
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reply to post by Blanca Rose
 


So let's try to think ahead a little bit here: when this glorious revolution comes, and everyone topples their governments and respective economies, what then? Survival of the fittest? Hunter/gatherers in the streets?



posted on May, 6 2010 @ 02:49 PM
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reply to post by cagliostro
 


You know, it's great you are questioning this.

Better to have an idea of what you might expect, than to second quess it after the fact.



posted on May, 6 2010 @ 02:50 PM
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Originally posted by cagliostro
reply to post by Blanca Rose
 


So let's try to think ahead a little bit here: when this glorious revolution comes, and everyone topples their governments and respective economies, what then? Survival of the fittest? Hunter/gatherers in the streets?


Thats what some of the people want.

That only leads to warlords and feudal society.

Personally I am not a big fan of the dark ages.



posted on May, 6 2010 @ 02:51 PM
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Let's all take a deep breath, it was trading error by a firm that cause the major drop in the Dow today...


www.cnbc.com



posted on May, 6 2010 @ 02:51 PM
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Would be interesting to know how it shot back up so quickly..... Any way to find out if some "Large" players, say the Fed or "sovereign wealth funds" suddenly came to the rescue?



posted on May, 6 2010 @ 02:53 PM
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reply to post by cagliostro
 


Also, who said it would be "glorious.?"

It is what it is, no matter what way you want to spin it, people are going to get pissed.

It's pretty sad, actually, and the fact you find this whole shebang humorous is, what I find most offending.

I lived through Katrina, and saw how people can be, just like what is being shown in Greece. People get VERY upset, when they have nothing.

You can think all you want to, about there being no lawlessness, but, I think you need to get your head either outta your butt, or the sand.



posted on May, 6 2010 @ 02:54 PM
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reply to post by infolurker
 



Yeah, and just before the market close. I guess they didn't want too many people diving off of high rises just before suppertime!



posted on May, 6 2010 @ 02:55 PM
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reply to post by Blanca Rose
 


True, but I just hope I don't find out that the value of building a bunker in my back yard is suddenly too great to pass up.



posted on May, 6 2010 @ 02:56 PM
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reply to post by ProfEmeritus
 


That is somewhere along my pattern of thinking also..

On the European side and Globalist side, I am of the 100% belief that the markets are being manipulated in order to create a United States of Europe out of the EUROZONE..

And while this is being done, it is definitely possible for the major investment companies to dump some dirty laundry into the market where it can possibly disappear forever..



posted on May, 6 2010 @ 02:56 PM
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All a con, why bother?

[edit on 5/6/2010 by andy1033]



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