DOW following FTSE - Dow drops 350 points at one time.

I wondered how long this news would take to break,

"The Dow is diving on Wall Street, plunging more than 350 points at one time, as another broad sell-off continues with investors worried about rising unemployment and an economic slowdown."

"As of 12:30 p.m. ET, the Dow Jones Industrial Average fell 300 points, or 2.5%, to 11,596, the S&P 500 slipped 34.7 points, or 2.8%, to 1,225 and the Nasdaq Composite slid 79.1 points, or 2.9%, to 2,613. The FOX 50 tumbled 20.1 points, or 2.3%, to 881."

Like the FTSE, the DOW has plunged 270 points, dashing hopes of a 2011 recovery.

Source: www.foxbusiness.com...

Where will this all end??

Regards.

P.S. please see my other thread regarding todays FTSE drop here: www.abovetopsecret.com...

reply to post by Surreptitious


Its about time they realised the boat which they pumped in money (which they didn't have) to save their economies, sunk a long time ago.

What was agreed to, sealed our fate with no margin left to recover from it. It would seem the markets are a little slow to read it and realize the meaning of what Congress did to us, but they're starting to understand. The dive in numbers shows that. Grab something to hang onto, it gets wild now.

I've been warning folks there wasn't much time left before six different kinds of hell break loose.

About two weeks ago, I said we had no more than two to four weeks left, and things seem right on track.

The unravelling has begun, and from here on out things will speed up.

Expect another major weather event within the next couple of weeks. I'm not a prophet, just a guy who pays attention to patterns and the patterns hae all been leading to the same place: chaos.

With the Dallas area entering its thirty-something day of over 100 degrees, expect equipment breakdowns and failures due to excessive heat loads. The electric grid in Texas could go offline pretty much anytime if anything looks hard at it...the road net is falling apart in the middle of the country: Oklahoma roads are melting, north of there they're falling apart due to floods. Bridges have been lost, putting higher strains on what's left.

The politics, the economy, the physical world...everything is frayed, overheated, and overstressed. I can hear the threads snapping left, right, and center.

Not much time left at all.

reply to post by Surreptitious


Ahh, the banksters squeezing the last little scraps of money left in our compulsory super funds..

who'd of guessed.

I just woke up and took a look at marketwatch.com and was just wowed

This was the headline article

www.marketwatch.com...

NEW YORK (MarketWatch) — U.S. stocks thudded lower on Thursday, pushing the Standard & Poor’s 500 into correction territory, as Wall Street tore a rapid retreat down a wall of economic worry.

European stocks also fell sharply on worries that Italy or Spain might require help from the European Union.

Just looking at some of the headlines on marketwatch's main page makes me shudder.

[atsimg]http://files.abovetopsecret.com/images/member/bbdc7391d8f6.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/1f0b3bb16ab0.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/5c9396bebd05.jpg[/atsimg]

Also have to add - Isnt the jobs report for last month coming out tomorrow? I have a feeling that could do some more damage if the report isnt good (which I dont think it will be good at all).

There is a thread about the market that is commonly used and I posted this information there hours ago. Regardless I estimated the DOW down 3.25% and edited to 2.75%... 3.25% on the day is looking to be more plausible now, if not worse.

Jobs, yeah probably not looking good. I'd say tomorrow will be as bad if not worse than today.

reply to post by buni11687


I agree with your comments,

The markets cannot take these kinds of "hits" without something having to give.. but what?

We are all suffering with the massive price rises in food, fuel etc, so where do they indent to claw back these losses from exactly, everyone is going broke.

What is the answer, if there is one??

Regards.

I predicted this at the start of the week...I thought things were going to get messy but not this messy. It hangs on Italy, if that goes then the ripple effect to china will have a direct impact and burst their property bubble.

Then well... grab some popcorn.

I believe this is how this stocks have settled today. Not a really good sign.

[atsimg]http://files.abovetopsecret.com/images/member/a621abb69ded.jpg[/atsimg]

big worry. Investors pulling the plug. Not even movement, look at gold.

So basically back where u started,, but now deeper in debt.