Dow down nearly 360 points

[arcadian]

http://ap.google.com/article/ALeqM5gHs5OM3gFG_DytQQZFbWfgPT08MAD91I0UO00

Wave of bad news sends Dow down nearly 360
By MADLEN READ – 45 minutes ago

NEW YORK (AP) — A barrage of bad news including yet another record high for oil drove stocks sharply lower Thursday, hurtling the Dow Jones industrials down nearly 360 points to their lowest level in nearly two years.

The market also worried about fresh signs of trouble in the financial, high-tech and automotive industries. Negative analyst comments sent shares of General Motors Corp. stock to their lowest point in more than three decades.

Oil futures shot past $140 for the first time after the head of OPEC predicted the price of a barrel of crude could rise well over $150 this year and Libya said it may cut oil production.

That increases the odds that gasoline prices, which crossed a nationwide average of $4 a gallon weeks ago, will extend their advance, and that goods and services across the economy will get ever more expensive.

<more at link>

[lib2DaBone]

1. World Economy Would Collapse If Oil Hit $200

We're only $60 away!
http://www.bloomberg.com/apps/news?pid=20601072&sid=am42p9xBTXh4&refer=energy

[pretzel4gore]

2. hooray....

they're trying to keep up the charade until their nasty secret (the bush peckers created bush and foisted him upon the american people) junyer retired, but, even the suggestion the dems will look into bush's crimes might force him to declare himself prezident for life, and the stock markets reflect the criminal activity of the bush peckers as they frantically try to figure a way out, or at least a way to blame the american people for the mess