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The Dow closes today at 11,383.68 with a drop of -512.76 points

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posted on Aug, 4 2011 @ 08:52 PM
Not looking good for tommorrow... Hang Seng is down 1k points

posted on Aug, 4 2011 @ 09:07 PM
Looks like Asia is takin some big hits now to

Asia shares plunge to join in global rout

SYDNEY (MarketWatch) — Asia shares nose-dived on Friday, joining in a global rout, as deep fears about economic growth reached fever pitch ahead of a key report on U.S. jobs.

Tomorrow will be very interesting

ETA - Seeing more "Market Meltdown" on the news channels now talking about Asia stocks falling
edit on 4-8-2011 by buni11687 because: (no reason given)

posted on Aug, 4 2011 @ 09:12 PM
Its amazing considering most of the trading is done with algorithms.

I don't think the small percentage of trades that is human speculation would do this to the market.

posted on Aug, 4 2011 @ 10:03 PM
So, this is probably a bad time to ask for a raise,based on my performance.

It's not MY hard work that generated profits for my company,but how they chose to invest in my hard earned time for the company.

I see where this is going. I'll be told to drive in the employee parking lot,shut up,and watch them go lament new decisons at a nice lunch,while I eat my P and J in the cafeteria.

Just Kidding..... Thank God I saw this coming,and adjusted accordingly.

Good luck to us all. And I'm broke as an independaent contractor. But I haven't banked on the global crap for years. I've been reading this site. Thank you for that.

posted on Aug, 4 2011 @ 10:21 PM
Aussie stocks wiped.................

Shares fell as much as 4.6 per cent on the All Ordinaries Index at one point, or 202.2 points, to a two-year low of 4150.7. The losses add to the $65 billion or so lost since Tuesday. For the week, the ASX200 share index is off almost 7 per cent - a loss if retained would be the worst weekly result since November 2008, at the height of the global financial crisis.

posted on Aug, 4 2011 @ 10:33 PM
Not sure if Brazil has been mentioned in this thread yet, but they fell pretty hard to.

Brazil’s Bovespa suffer biggest loss since 2008

SAN FRANCISCO (MarketWatch) — Brazil’s stock market dropped Thursday to join a global selloff, with its benchmark index suffering its biggest one-day loss since 2008 to close at its lowest level in two years.

Down 5.7%

Other Latin America

Mexico’s IPC down 3.4%
Argentina’s Merval down 6%
Chile’s IPSA down 3.94%

Looks like alot of places are being hit the hardest since 2008. I see Australia has been hit the worst since 08 in the above post to.

posted on Aug, 4 2011 @ 11:16 PM
If those unemployment numbers tomorrow look as dismal as I expect them to, it's going to be an interesting ride.

I said back in 2008 that what we were seeing was a correction. I believe what we saw today is also a correction. The problem is that these corrections can, at any time, turn into a complete crash like 2008 turned into a deep recession. If that happens, cash will be king, because banks will begin to fold next.

Even if this thing recovers quickly, nothing will be fixed; there has been no substantial improvement in the financial industry since 2008. Consider it a shot across the bow, one that may or may not hit and sink the ship.


posted on Aug, 4 2011 @ 11:25 PM
Redneck, I mean no disrepect. Did you really think the recession ended when the White House annonced it in 2008?

I've never beleived it. At all.

A NEW Recession?

We've been a paper tiger for a while now. I got your adjustment.

posted on Aug, 4 2011 @ 11:26 PM
reply to post by CasiusIgnoranze

I hate to break it to ya buddy but the good ol' US of A is the new Nazi Germany my friend.

EDIT: Think back before WWII. Everything was all peachy between Hitler and the Allies. It was only after he attacked France that the Allies bothered to deal with the problem that they helped create. There will be a tipping point, and when you reach it, you may find yourselves without very many friends (politically speaking).
edit on 4/8/2011 by xXxinfidelxXx because: (no reason given)

posted on Aug, 4 2011 @ 11:27 PM
we might see a bank holiday soon. if the real unemployment numbers are released tomorrow, the market will go lower. i can't believe congress passed such a crap bill. couldn't have come at a worse time.

posted on Aug, 4 2011 @ 11:29 PM
Keep in mind that stocks are a "leading indicator", so the selloff does not reflect events from this week, but it is a reflection of where investors think company performance will be several weeks down the road. Investors are fulling expecting bad news on the employment front tomorrow and it's already priced into the markets. If the news turns out to be fewer job losses than expected it could actually trigger a small rally (an anticipation that companies may be OK in a few weeks). But the rally probably won't start until next week because investors don't like to hold their positions going into the weekend if there's any uncertainty. The markets have all lost 10% in the last week or so and 10% is official "correction" territory. Most pundits are saying stocks are now oversold. My gut feel is that the markets may drop a bit at the open, level off, then sell into the close; but nothing like today. Then early next week fear will abate and we'll see a rally.

edit on 4-8-2011 by SavedOne because: (no reason given)

posted on Aug, 4 2011 @ 11:30 PM
Just listening to the radio tonight...they said to listen to the markets around 5AM when the Italian bond market opens. If the yield goes above 7.25% then basically Italy would be unable to service it's sovereign debt, bascially declared bankrupt by the markets. Also at around 6:40 AM the Libor numbers come out, telling what banks are charging eachother to lend money to one another. The Libor numbers went stupid crazy just before Lehmans Brothers and Bear Stearns went under.

posted on Aug, 4 2011 @ 11:50 PM
I'm trying to figure out what makes all these experts so expert?
Why can't we have a panel of average income moms who tell us if there's inflation or not?
Or an average income panel of workers who tell us how BAD market conditions are?

I hear all these people talk talk talking on CNN and CNBC and I think, these experts are either lying on purpose, or they are only experts on what concerns the rich, and I don't think there's all that many rich, because there's a whole, whole lotta poor to bring the average DOWN.

If it falls, and the above average income folks are out of jobs soon, then perhaps they can go to work for minimum wage on these farms down in South Georgia that can't find workers that I keep hearing about. Since they keep saying that the unemployed should just be glad for the opportunity and all.

posted on Aug, 4 2011 @ 11:56 PM
Many, many people globally are pulling away from spending......and...putting money under their mattress's (so to speak) and saving for a rainy day. They are reworking their budgets...and not spending as much...and hiding their money at home...this was reflected in the Stock Market plunge today.....I think we all need to look out for 2013...that is the year I believe the.....(blank) is going to hit the fan!

posted on Aug, 4 2011 @ 11:57 PM

some older members might remember this one,,,,sooooo back at square one,, and deeper in debt,,,hmmmm that didnt work,,

posted on Aug, 5 2011 @ 12:09 AM
Looking at this graph of the Standard and Poors 500, obviously this is not a correction, this is the start of a big downturn heading at least to a 1000 - 1200 pips below. Fasten your belts gentlemen this is going to last a couple of months.

posted on Aug, 5 2011 @ 12:24 AM
With all this said, when is it that they decide to determine that US credit rating should or shouldnt be changed, if that hits the pipeline any time soon, I can only imagine what that will add to the caca in the pipes.

posted on Aug, 5 2011 @ 12:26 AM
reply to post by TheRedneck

While the stocks have dropped significantly and are already passing the official "correction" (10% decline from YTD high) it doesn't signify a crash of any kind.

The only thing truly important, imo, is the markets have finally reacted violently to the debt issues in Europe. However, having said that, Europe will put out some BS quote about how they will fix all things in time.

The REAL crash, the big one, won't happen until either the US or Europe officially defaults.

reply to post by SavedOne

Stocks are a reaction indicator, they react to both events and the hypothetical .. to say an indicator that relies on news from any source is a leading indicator is an oxymoron. It's also entirely different because the reactions over the past week have been both economic and political. The markets can factor in declining sales, lower revenue etc etc .. it cannot factor in the 3rd and 4th largest economies (Spain and Italy) inside the Worlds largest economy (Europe) completely melting down and declaring bankruptcy. Most trades are done through computer programs, they factor in the language being used as well as key indicators in economic reports. Technically speaking, and it may only be my opinion, but the Stock Market(s) have very little to no relation to the Real Economy anymore.

posted on Aug, 5 2011 @ 12:33 AM
Very cool thread, alot of good contributers! I knew a big hit was coming, especially after the last 2 days of market loses...

Thats crazy that the asian markets are looking bad, -5%? thats not good, thats what we just had in a single day...

Man oh man tommorow is going to be nuts... Figures I started a new job and havent even gotten paid yet after 2 weeks of work... I probably wont even be able to get any supplies before the economy tanks... Glad im pretty much ready for it though...

posted on Aug, 5 2011 @ 12:45 AM
anyone out there explain the hang seng index why it has flatelined, did they hit a dropping point to halt trades or what?
nvm looks like it happens everyday

edit on 5-8-2011 by thegoods724 because: (no reason given)

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