Stocks had their worst day of trading since the Sept. 11, 2001, terrorist attacks Tuesday, hurtling the Dow Jones industrials down more than 400 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.
The steepness of the market's drop, as well as its global breadth, signaled a possible correction after a long period of stable and steadily rising stock markets that had not been shaken by such a volatile day of trading in several years.
A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading. The Dow began the day falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon as computer-driven sell programs kicked in, and also as a computer glitch caused a delay in the recording of a large number of trades.
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15 Comments
gwaanGreat post - I'm watching the news now, markets crashing all round the world - this is what 24 hour news stations were made for!
InvaderSilis this when everybody panics?
arrendekGet ready to buy buy buy!
choggieGood things come in threes....wait a week or so..
Traconsays...man why didnt they put the curbs in
dagComment hidden because you are ignoring dag.(show it anyway)
OK, I've started burying cans of soup in the backyard - this will be the standard currency in the city state of Dagopia. Deploy the barb wire! Ready the MadMax Mobile!
... or am I over-reacting?
KrupoWatch this zaniness with this music....
http://www.videosift.com/video/The-Allman-Brothers-Band-Whipping-Post-Part-1
It feels good in the "chaos" angle.
antMy money!
dotdudeMy money, too!
ZeroMyHerommm...mamm...maa...ha ha haaa haaa haw haw haw HAW HAW HAW HAW HA!
Blessed are the poor.
For yours is the Kingdom of Heaven!...
Woe to you rich!
You have already received your consolation!
Woe to you that are full!
For you will starve!
Woe to you who are laughing up to now!
For you will mourn and weep!"
- Jesus, the Sermon on the Plain (Luke 6:4-26)
EMPIREsays...I don't worry about things like this. The truth is (and it has been proven historically) stock markets fluctuate constantly, going up and down, but always keeping a trend. So if this happens now, it will compensate in the near future.
Farhad2000A small bump on the way to the real shit storm.
joedirtWell. I was pretty sure we weren't going to Bomb Iran.. even in spite of National Israel Nuke Drill, and Israel requesting airspace access over Iraq to fly to Iran... that and the two fleets of cruise and patriot missile ships we sent to Gulf. Oh and the mine seek and destroy naval group. And the MSM rhetoric exactly matching the march up to Iraq war.
Well, how could I be so sure Iran wasn't inevitable? Look at the stock market. Thing clearly said, no insane missle / mini-nuke dropping fiasco. Until, guess when..
Hey, for giggles, go look at Jan and Feb 2003 before Iraq invasion. Go ahead. I'll wait.
cricket*length=05:06
siftbotThe duration of this video has been updated from unknown to 5:06 - length declared by cricket.
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