Stocks dive for worst quarter since crisis

[xchrom]

http://www.marketwatch.com/story/us-stocks-drop-in-echo-of-tough-quarter-2011-09-30

SAN FRANCISCO (MarketWatch) — U.S. stock losses accelerated in the final hour of trading Friday as worries over Europe’s debt trumped mixed economic data, closing a turbulent third quarter that counted as the worst for the major indexes since the depths of the financial crisis.

The Dow Jones Industrial Average /quotes/zigman/627449/delayed DJIA -2.16% , which had struggled over the session to maintain moderate losses, dropped 240.60, or 2.2% to close at 10,913.38. While the index was up 1.3% for week, it dropped 6% for the month, the fifth consecutive monthly loss, and fell 12% for the quarter, the worst quarter since March 2009.

John Canally, an investment strategist at LPL Financial, said much of Friday’s market activity has to do with end-of-quarter selling.

“The data are suggesting slow growth, while the market is suggesting recession; that’s the tug of war that’s going on right now,” he added.

[Lionessa]

1. Unfortunately as we learned three + years ago,

unless and until Wallstreet collapses and/or fails to recover before TPB will even be willing truly consider doing something about the economy. Hopefully the lesson of failure of the past three years is recent enough history for TPB to see that just like in the 30's-40's, encouraging the wealthy while kicking everyone else doesn't help the economy recover.