Dow Falls More Than 200 Points

[133724]

NEW YORK (AP) -- Wall Street pulled back sharply Tuesday as investors worried about fundamental economic problems as well as the ongoing fallout from credit market problems and stocks' own volatility. The Dow Jones industrials skidded more than 200 points.

The downturn in stocks was first triggered by a report from Wal-Mart Stores Inc. that profit will fall below expectations this year as consumers rein in spending. Home Depot Inc., the world's biggest home improvement chain, added to the slide when it said weakness in the housing market caused quarterly profit to slide.

...


http://www.nytimes.com/aponline/business/AP-Wall-Street.html?_r=1&hp&oref=slogin


http://moneycentral.msn.com/investor/charts/chartdl.aspx?Symbol=%24INDU%2c%24INX%2c%24COMPX&CP=0&PT=3


Off by around 6% in the last 30 days...

[SpiralHawk]

1. "Don't worry. Me and my republicon cronies are doing great." - Commander AWOL

"War profits are way up. Smirk, smirk, smirk.

"Oh yeah, I, um, almost forgot to repeat the snappy republicon Homelander propaganda Talking Point of the day: 'Too bad about you little people and stuff. Smirk.'"

- Commander AWOL

[Speck Tater]

2. Gee, and just yesterday, Business Week said...

It's time to BUY, BUY, BUY !!!

http://news.yahoo.com/s/bw/20070813/bs_bw/aug2007db20070812794375;_ylt=Ap6N6LcMdmdR4y4fvyg8EzayBhIF

"Let's be realistic and get a grip. If I were an investor with ample resources, or a money manager who feels besieged by the market's latest tantrum, I would go shopping -- for stocks."

...

"True, some people would say, the market may not be through crying its eyes out over the subprime mortgage crisis. That could happen, but so what? If prices do drop some more -- I doubt very much that the Dow would tumble another 500 points -- buy more of the same stocks."

Well, it looks like 200 points of that impossible 500 point drop have already happened. What will tomorrow bring? Two more days like today and the impossible 500 point drop will be passed by on Thruisday.

[spanone]

3. yep, that economy is surgin'...

:mad:

[Warpy]

4. They blamed Home Depot a couple of weeks ago

The truth is that credit is being tightened up worldwide, and that's about bloody time. Hedge funds are starting to feel the effects first.

Derivative jockeys are soon going to be seen for what they are: swindlers.

Of course, they could always salvage the consumer economy by scraping some wealth off the very top and recirculating it at the bottom, but nah, that's class warfare, right?

[CountAllVotes]

5. basically it has lost almost 1,000 pts.

in a very short time; Nasdaq down even more than the DOW.

You have to be crazy to play this game IMO.

GOOD LUCK.

You'll be needing it! YIKES!!

:dem: :kick:

[marmar]

6. Enron could only keep the game going for so long.....

Our "Enron" economy will follow suit.

[porphyrian]

7. That's twice in under a week, no? - n/t

[CountAllVotes]

8. have you by chance checked the Yahoo finance board?

They haven't adjusted the charts quite yet. Maybe they are behind in their work ... :shrug:

:wtf:

note: same as zillow.com website. That has not been updated since mid-July. It used to change almost once a week not too long ago. :think:

:kick:

[porphyrian]

10. Maybe they're trying to keep people from jumping off of buildings.

I haven't checked Yahoo, but I'll bet they're just in damage control mode now.

[CountAllVotes]

11. here is a good example:

http://chart.finance.yahoo.com/c/2y/a/awshx

Note: This stock closed at 35.65 - the chart shows a far higher an amount over 36.00 a share still.

I owned this stock several years ago. I just thought I'd give it a look. *eek*

[porphyrian]

12. Yeah, stop trusting them for the forseeable future. - n/t

[lpbk2713]

9. They were really crowing when the Dow hit 14K ...

now it's just a shade shy of 12K and they have developed laryngitis.