Dow suffers biggest point drop in 21 mos. (congrats to Bush and his war )

[cthrumatrix]

Dow suffers biggest point drop in 21 mos.
By Susan Lerner

NEW YORK (MarketWatch) -- U.S. stocks took a beating Tuesday with blue chips suffering their biggest losses in 21 months amid sharp declines in Home Depot (HD) and Merck (MRK) and a spike in crude-oil prices to a four-month high. The Dow Jones Industrial Average ($INDU) plunged 174.02 points, or 1.6 percent, to an unoffical close of 10,611.20 -- it's biggest one-day point decline since May 19, 2003. The Nasdaq Composite Index ($COMPQ) , meanwhile, logged its fourth consecutive day of losses, sliding 28.30 points, or 1.4 percent, 2,030.32 and the S&P 500 ($SPX) slid 17.42 points, or 1.5 percent, to 1,184.17.

http://www.marketwatch.com/news/newsfinder/pulseone.asp?siteid=mktw&dateid=38405.6713291435-832476526&

Tell me the thought of the "Iran War" doesn't have meaning. The dollar crushed, dollar falls off a table & gold up $8 oz.

[genieroze]

1. And he wants to FORCE us to stick our retirement in that? !!!!!!!

[cthrumatrix]

2. he says it's "voluntary"......until it's NOT

[fertilizeonarbusto]

3. Oooooh, yeah, baby

Put my social security there! I love living in a cardboard box!
:crazy:

[applegrove]

4. There was a recession a few years ago that Bush just smoke & mirrored.

Because he had an agenda to get through. Now the recession will be much, much worse.

Look at Bush go ::nopity:

[asjr]

6. And he said he inherited the recession. Never, never

will he take blame for anything. Pretty soon, though, he can't blame everything on Clinton.

[cthrumatrix]

7. and the corporate media cartel "let him lie"

[whistle]

9. Bush will call it Clinton's two hump recession and his sheep...

...will believe him.

[applegrove]

10. Recession caused by overheated speculation in market. Too many dollars

chasing too few actual good business. Recessions are also normal.

Putting off a recession is quite a new one though. What a bunch of adolescents. And they have the :nuke:

[Just Me]

24. ,...or,...a well-hidden depression,...

n/t

[whistle]

5. Ha! The insiders must have bugs in the G8 bedrooms and....

...overheard them all laughing at Bush's performances. Wait until Bush meets Putin on, is it Thursday? The market will have the biggest one day tumble in both dollars and real percentage in its history!!!!

[whistle]

8. Where is that DUer who posts all the stock predictions every...

...couple of weeks? Did his numbers show this coming?

[cliss]

11. Maybe that's why he scurried over to Europe

to kiss some European butts.

Message to Bush: "There's no such thing as a free lunch. You and your cronies thought it would be so easy to pick the low-hanging fruit in the various countries where there are large deposits of oil and natural gas. It seemed so easy.

But because there are people living on top of that oil, and because we're ONE WORLD, one humanity, and everything is interconnected, everything you do will have a ripple effect, big or small".

It's called the Butterfly Effect.

Question: if a butterfly flaps its wings in Brazil, will it have an effect on the rest of the world?

Answer: yes.

[cthrumatrix]

13. I seriously think the "RItter leak" on the Iran war spooked the dollar and

oil and gold...market fell apart


Again...it all comes down to bush policy failures.

[gratuitous]

12. And 20 years from now . . .

Today's the day your private account has to be indexed. Oops, you just lost $75 a month off your private account. For life. Too bad, so sad.

And no, there's no one you'll be able to sue, and nothing you can do to recoup that loss. There has to be a drop-dead date some time, and if yours happens on a day the Dow closes down 174.02, well . . . Bummer, dude.

But the brokerage firm that handles your account will get its full commission. Isn't that nice?

[Coastie for Truth]

14. Is it the old "Inverted Yield Curve" predicting a Bush Recession?

-- we now have it with an "Inverted Yield Curve" on corporate bonds. Some economists say it is a 100% accurate predictor of recessions.

[neverforget]

15. Just 2 weeks ago I heard on TV that the stock market was going to

get some traction for positive gains because of positive economic news that was expected last week. Oops wrong again. Damn I hate it when the TV lies to me! :eyes:

[One_Life_To_Give]

16. 1.6% Big Fat Hairy Deal

Wake me up when it gets to 22.9%


It doesn't make good headlines, but one needs to look at the fundamentals.

[sendero]

19. The fundamentals..

.... include spiraling oil prices and an inverted bond yield curve.

Not good.

[One_Life_To_Give]

20. 80 million bbl/day fundamental

This looks like a single issue reaction. Specifically to nervous traders in the energy sector and the lack of spare capacity in global crude oil production.

[sendero]

21. Perhaps you are aware...

.. of the devastating inflation-inducing effect rising energy prices have.

Virtually every single product you buy is affected.

Wall Street is damn right to worry about high oil prices, they are very bad for our economy.

[One_Life_To_Give]

29. Yeah, Oil is a news story in itself.

But is a one day move of 1.6% really that much of a story?

[Just Me]

25. Ahhhh, yes. The fundamentals. Those numbers manipulated,...

,...ON PURPOSE, in order to prevent depression panic.

Those must be the "fundamentals" you speak of,...the ones with creative calculations being superimposed on real numbers.

:eyes:

[mandyky]

17. So, is this the beginning of the slide into depression?

I figured a crash to be the October surprise last year, so this is overdue in my opinion.

[kazoo35]

23. Not yet. We've got another year of this bullshit before it gets serious.

This was about the earthquake in Iran and possible effects to global oil supply.

Note that there doesn't seem to be any spare capacity laying around anywhere to pick up the slack.

[RaleighNCDUer]

18. And this is the safe investment for our kids' SS. n/t

[B Calm]

22. This sucks! My God when is this economic disaster ever going

to end?

[charles_nys]

30. Hate to tell ya but ......

the real economic diaster hasn't even started yet. This is nothing compared to how bad bush is going to sink us.





We're so f*ed!

[Lone_Star_Dem]

26. This is not good.

South Korea's central bank said on Monday it planned to diversify its reserves, the world's fourth largest, into a greater variety of currencies.

The move by South Korea fueled speculation that other central banks would follow suit. Fears of a weaker dollar diminishes foreign investors' appetite for U.S. assets.
http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20050222&ID=4259824

If this trend were to spread the we would be in big trouble.

[diamond14]

27. under President Clinton, the DOW topped 11,700...slid down continuously

since bush* stole office...overall, sliding for more than four years, currently down 1100 points from Clinton.....and nobody wants to mention that....hell, if you had money invested in the DOW during Clinton, it's now worth 9.3 % LESS....hmmmm.....some people must be really MAD about the bush* economy....where all your investments go DOWN DOWN DOWN....I'm surprised that the retirees haven't been POUNDING ON THE WHITE HOUSE GATES to throw the fool out of office....

[Piperay]

28. What's Wall Streets problem

they got the regime they wanted, now they aren't happy. :shrug: