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Dow Plunges More Than 678 to Fall Below 9,000

Business  (tags: USA, Wall Street, Dow Jones, stocks, inventments, money, General Motors, industrial average )

- 3544 days ago -
The Dow Jones industrial average lost 679 points, after hitting its lowest point since May 27, 2003 during the session...more than 7 percent, to their lowest level in 5yrs. after a major credit ratings agency wants to cut ratings on Gen. Motors.

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Kathleen Hilliker (293)
Thursday October 9, 2008, 1:56 pm
GM led the Dow lower, falling 31 percent, while Ford fell 58 cents, or 22 percent, to $2.08.

"The story is getting to be like that movie Groundhog Day," said Arthur Hogan, chief market analyst at Jefferies & Co. He pointed to the still-frozen credit markets, and Libor, the bank-to-bank lending rate that remains stubbornly high despite the Fed's recent rate cut.

"Until that starts coming down, you'll be hard-pressed to find anyone getting excited about stocks," Hogan said. "Everything we're seeing his historic. The problem is historic, the solutions are historic, and unfortunately, the sell-off is historic. It's not the kind of history you want to be making."

When will the craziness end?

Blue Bunting (855)
Thursday October 9, 2008, 1:59 pm
Big P.R. buildup before the automaker bailout.

Estella Ameigh (22)
Thursday October 9, 2008, 6:57 pm
Kiss what money you have left goodbye the government will spend your savings for you and tell you it is for your own good. Want to buy an
invisible bridge anyone?

Marion Y (322)
Thursday October 9, 2008, 7:27 pm
"When will the craziness end? "

This is just the beginning...Thanks Kat!

Hans L (958)
Friday October 10, 2008, 12:22 am
Why throw away the good money? I agree with Astelle they help people who do not deserve help with your money! And the bubble is still here....8000 maybe? 7000? Why not let the hot air out of wallstreet and forget the golden parachutes! How about a special jail for wallstreet criminals? Maybe a nice luxury resort? Guantanmo NOW for all the Wallstreet CONS!
They screw you! And the government is ok with that? Or are they involved in this ?
According to mainstream media in Europe they are! This housing bubble has been planned!

Marian E (152)
Friday October 10, 2008, 9:23 am

Still g

Thank you Kactus Kat

Marion Y (322)
Friday October 10, 2008, 9:29 am
Marian...A worldwide crisis for sure.

Please excuse me for switching the subject....


I encourage everyone to sign this petition being promoted by Hans:

(URGENT!) Buy-In, Not Bailout - global public rescue (all countries can sign)

A financial meltdown is threatening economies around the world. We need to move fast and fix the underlying problems -- instead of copying the US bailouts, which benefit reckless financiers most. Please sign and spread this petition! Avaaz again!


Back to regular programming...

Louise L (48)
Friday October 10, 2008, 1:44 pm

Pete Conrads (91)
Friday October 10, 2008, 8:58 pm
Thank you and noted Kactus Kat warm regards,
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