Dow plunges more than 600 points after downgrade

Dow plunges more than 600 points after downgrade

finance.yahoo.com

NEW YORK (AP) -- Stocks plunged Monday as anxiety overtook investors on the first trading day since Standard & Poor's downgraded American debt.

The Dow Jones industrials fell 634.76 points. It was the sixth worst point decline for the Dow in the last 112 years and the worst one-day drop since December 2008. Every stock in the Standard & Poor's 500 index declined Monday.

Investors worried about the slowing U.S. economy, escalating debt problems threatening Europe and the prospect that fear in the markets would reinforce itself, as it did during the financial crisis in the fall of 2008.

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
S&P falls 6.66% (Not Again!)

Fascinating times indeed...
Is it funny that Yahoo!.com lists it as a 5.54% drop for the Dow, yet it was actually a...5.55%? Oh well, although if you click on the link for the general breakdown it displays it accurately. Almost didn't think it was going to make it! All of that aside, lets hope things can progress to a better state.

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




Related AboveTopSecret.com Discussion Threads:
www.abovetopsecret.com...

First we worship idols, then we worship percentages and indexes.

Second line agrees.

Yet O preaches more of the same #e that has not been working since he took office. Somebody buy him a clue. The markets reject his desire for communism. Accept it and move on. Time for "regime change" here in the US.

Well that cost me 20 bucks. I figured it would go 1000 then come back to 500+- Oh well tomorrow will be a money maker.

Originally posted by sonofliberty1776
Yet O preaches more of the same #e that has not been working since he took office. Somebody buy him a clue.

The markets reject his desire for communism. Accept it and move on. Time for "regime change" here in the US.

And after the dust settles, the country will still be in the same boat or worse much like Egypt. Keep taking out the puppets, and the puppet masters only laugh.

Originally posted by sbctinfantry
First we worship idols, then we worship percentages and indexes.

Second line agrees.

Bow to your true God!!!

reply to post by sonofliberty1776


Agreed.When Obama speaks, the Dow shrinks. Don't want to think about how much my ira lost with each of his words.

All I know is that nothing was wrong until 15% of the congress self-described as Tea Party members. They must have somehow took control of the economy and ruined it. LOL. /sarcasm

The debt to GDP ratio at 98% according to USdebtClock.org is approaching a default death bell. The government spending to GDP ratio at 47% is absolutely a death bell for the US economy. It is the end of the economic world for the USA. Sorry but an economy does not work with the government spending half of the economies money.

The only thing that matters now so far as I'm concerned is the spending to GDP ratio. 47% is something that could easily lead to 3rd world squalor. 0% would be ideal, but 10% would be a good number for success.

Here is something to think about though. The 2 trillion spending spree the Republicans and Dems agreed to will be done in part under a "supercongress". The thin veil of democracy is gone to anyone with a functioning head. The market could be responding to the idea of getting used to a fascist government structure and economy. Fascism in the US is becoming pretty strong now.

So,giving Obama another 2 trillion to play with did exactly what? Can anyone tell me? Well it has put us in debt more, but anything else? Bueller..Bueller?

Originally posted by sbctinfantry
First we worship idols, then we worship percentages and indexes.
Second line agrees.

quote
"These shall make war with the Lamb,
and the Lamb shall overcome
them: for he is Lord of lords,
and King of kings:
and they that are with him are called,
and chosen,
and faithful. "
unquote
Maybe, this is the same wound as 2002,, just returned,,
In other words,, as a people,
Americans,
are right back where they started,
only they owe more,
It's never free,
but it is only 9 short years ago,
that they thought they could,
Opened the Books,
and not get caught ?, not be held too simple Accounting Rules?
Who was cooking the Books and Why?
,If u skip a few pages,
But in the End ,
It's all in the Details.
Remember Sometimes Wealth is In the Contracts whic Expire.
Did U.S.A. owe some money at the End of one of these Contracts
That they forgot about?,, sorry,
A contract written in Perpetuity,, well sorry,, no such thing.,,, anymore.
And how does thi all pertain too a 600 point drop,,
well Im more of the mind that just "600" does it for me.
Time is over ,,tick ,, tock,,

I think a G.C.S. or Global Clean Slate is in order. No?