400 points and dropping

[RichardE]

http://money.cnn.com/2008/09/1...postversion=2008091515

NEW YORK (CNNMoney.com) -- Stocks slumped Monday, as investors reeled amid the fallout from the largest financial crisis in years after Lehman Brothers filed for the biggest bankruptcy in history and Bank of America said it would buy Merrill Lynch in a $50 billion deal.

Treasury prices rallied as investors sought the comparative safety of government debt, sending the corresponding yields lower. Oil prices tumbled, falling well below $100 a barrel on slowing global economic growth. The dollar rallied versus other major currencies and gold prices spiked.

The Dow Jones industrial average (INDU) lost 410 points, or 3.2%, with 40 minutes left in the session. The Standard & Poor's 500 (SPX) index lost 3.5% and the Nasdaq composite (COMP) lost 2.8%......

Will this continue all week?

 

[Stoneburner]

If it remains less than 500 then it won't be too bad. But we have 4 days left to go.

 

[woodie1]

Down 352.7 now.

 

[Vic]

The good news are that oil is dropping like a stone as well, now $95 and change, and that bonds are way way up.

 

[CADsortaGUY]

PANIC!!!!!!!!

 

[dphantom]

Natural reaction from the Lehman bankruptcy and BoA buying Merril Lynch. There will continue to be a lot of turbulence in the markets, but within a year I suspect the fuinacial marrkets will return to stability. I wouldn't be surprised to see a sharp bounce up tomorrow to buy back cheap stocks and because of the oil futures dropping.

 

[Vic]

Originally posted by: CADsortaGUY
DUH-VERT!!!!!!!!

Fixed.

 

[43st]

This is a minor considering the news that's being presented, imo.

 

[Vic]

Originally posted by: 43st
This is a minor considering the news that's being presented, imo.

Seriously. If anything, I thought the markets were reacting rather well all things considered.

 

[Genx87]

Originally posted by: Vic

Originally posted by: 43st
This is a minor considering the news that's being presented, imo.

Seriously. If anything, I thought the markets were reacting rather well all things considered.

Probably starting to build in these failures. We have had enough of them and a lot of these were talked about and probably expected anyways.

 

[CADsortaGUY]

Originally posted by: Vic

Originally posted by: CADsortaGUY
DUH-VERT!!!!!!!!

Fixed.

Divert to what exactly? Or are you just being an ass?

 

[nageov3t]

Originally posted by: Vic

Originally posted by: CADsortaGUY
DUH-VERT!!!!!!!!

Fixed.

'duh' is a product of fear.

 

[brownzilla786]

this is so ugly. Good bye investments

 

[HeXploiT]

Down 500+ points at close.

 

[darkhorror]

but the fundamentals of the economy are strong damn it

 

[Specop 007]

Originally posted by: Vic

Originally posted by: 43st
This is a minor considering the news that's being presented, imo.

Seriously. If anything, I thought the markets were reacting rather well all things considered.

Down 4%. Not too bad at all all things considered. I agree. This is hardly the OMGWTFBBQPANIC people think it is.

 

[blackangst1]

Originally posted by: brownzilla786
this is so ugly. Good bye investments

do you day trade? If not whats the problem?

 

[EKKC]

500.
SKF is a megahit today. buy buy buy!

 

[StageLeft]

Originally posted by: Stoneburner
If it remains less than 500 then it won't be too bad. But we have 4 days left to go.

It didn't.

End of the day is always when the sh*t hits the fan isn't it?

do you day trade? If not whats the problem?

Maybe the fact that if I put $100 into the market a decade ago and $100 into a savings account my savings account would probably be worth more today?

Part of the reason the market didn't do worse today is because it's already been battered so much there's not much less to beat out of it.

 

[43st]

Originally posted by: blackangst1

Originally posted by: brownzilla786
this is so ugly. Good bye investments

do you day trade? If not whats the problem?

Merrill and Lehman down.. what's the problem? Wow..

 

[Young Grasshopper]

Thanks Bush.

 

[HeXploiT]

Originally posted by: Specop 007

Originally posted by: Vic

Originally posted by: 43st
This is a minor considering the news that's being presented, imo.

Seriously. If anything, I thought the markets were reacting rather well all things considered.

Down 4%. Not too bad at all all things considered. I agree. This is hardly the OMGWTFBBQPANIC people think it is.

oh ok. So we've reached a bottom then?
Would you care to call the bottom?
We are going below 10,000.

 

[blackangst1]

Originally posted by: 43st

Originally posted by: blackangst1

Originally posted by: brownzilla786
this is so ugly. Good bye investments

do you day trade? If not whats the problem?

Merrill and Lehman down.. what's the problem? Wow..

What your personal investments are going to close? paleeze. You know how many major telecoms filed banko in 2001-2002? ALL of them.

Whats the problem to my reply to his statement?

 

[blackangst1]

Originally posted by: Skoorb

Originally posted by: Stoneburner
If it remains less than 500 then it won't be too bad. But we have 4 days left to go.

It didn't.

End of the day is always when the sh*t hits the fan isn't it?

do you day trade? If not whats the problem?

Maybe the fact that if I put $100 into the market a decade ago and $100 into a savings account my savings account would probably be worth more today?

Part of the reason the market didn't do worse today is because it's already been battered so much there's not much less to beat out of it.

Are you REALLY that stupid?

 

[nullzero]

We are screwed big time... Great Depression #2 here we come... History repeats itself.