disrupter
10-07-2008, 04:40 PM
Better get a six-pack of pepto,
this looks to continue even uglier.
Dow dips more than 500 on worries about financials
By TIM PARADIS, AP Business Writer, 07 Oct 08
NEW YORK - Wall Street has had yet another dismal day, extending its heavy losses as investors' worries about the financial sector wiped out early enthusiasm over the Federal Reserve's efforts to inject confidence into the credit markets. Trading remained fractious and grew more turbulent in the last hour, with the Dow Jones industrial average losing more than 500 points and all the major indexes falling more than 5 percent.
This latest plunge, which followed a big drop on Monday, came after Bank of America Corp. reported its third-quarter profits fell 68 percent. The market's gloom was also fed by comments from Fed Chairman Ben Bernanke, who warned that the financial crisis could prolong the difficulty the economy is facing.
The Dow is down 508, or 5.11 percent, at the 9,447 level, after falling nearly 370 Monday. The broader Standard & Poor's 500 index is down 5.73 percent and the Nasdaq composite index is down 5.80 percent.http://news.yahoo.com/s/ap/20081007/ap_on_bi_st_ma_re/wall_street;_ylt=ArZj_phINi_w0sdNYj7jr..s0NUE
I think i am enjoying seeing all the bullshitters having their chickens come home to roost.
Erasing the look of glee from my face, i know only too well this can happen to anyone, sometimes even to those who took a lot more precautions.
I have on occasion been on the receiving end of a stock price beating, & you can't do a damn thing about it, lol. What a nightmare, lol.
I guess the lesson is don't listen to all the hype, especially from Wall Street Brokers & do your own thinking & best of all some independent researching.
And if it is really opaque or you just can't understand it, don't get involved.
If it were magic it wouldn't need Wall Street.
There was a local show here about a week ago where one financial adviser was saying he was buying canned goods & ammunition, lol. And he wasn't even smiling about it. I'm not sure it is guns & gold time, but maybe it is. Wouldn't hurt to have a little of each as well as some water, pasta & canned goods.
this looks to continue even uglier.
Dow dips more than 500 on worries about financials
By TIM PARADIS, AP Business Writer, 07 Oct 08
NEW YORK - Wall Street has had yet another dismal day, extending its heavy losses as investors' worries about the financial sector wiped out early enthusiasm over the Federal Reserve's efforts to inject confidence into the credit markets. Trading remained fractious and grew more turbulent in the last hour, with the Dow Jones industrial average losing more than 500 points and all the major indexes falling more than 5 percent.
This latest plunge, which followed a big drop on Monday, came after Bank of America Corp. reported its third-quarter profits fell 68 percent. The market's gloom was also fed by comments from Fed Chairman Ben Bernanke, who warned that the financial crisis could prolong the difficulty the economy is facing.
The Dow is down 508, or 5.11 percent, at the 9,447 level, after falling nearly 370 Monday. The broader Standard & Poor's 500 index is down 5.73 percent and the Nasdaq composite index is down 5.80 percent.http://news.yahoo.com/s/ap/20081007/ap_on_bi_st_ma_re/wall_street;_ylt=ArZj_phINi_w0sdNYj7jr..s0NUE
I think i am enjoying seeing all the bullshitters having their chickens come home to roost.
Erasing the look of glee from my face, i know only too well this can happen to anyone, sometimes even to those who took a lot more precautions.
I have on occasion been on the receiving end of a stock price beating, & you can't do a damn thing about it, lol. What a nightmare, lol.
I guess the lesson is don't listen to all the hype, especially from Wall Street Brokers & do your own thinking & best of all some independent researching.
And if it is really opaque or you just can't understand it, don't get involved.
If it were magic it wouldn't need Wall Street.
There was a local show here about a week ago where one financial adviser was saying he was buying canned goods & ammunition, lol. And he wasn't even smiling about it. I'm not sure it is guns & gold time, but maybe it is. Wouldn't hurt to have a little of each as well as some water, pasta & canned goods.