MarketWatch: Hungry bears on a rampage (Dow drops 300 points)

[marmar]

Stocks drop sharply on economic, financial woes
Friday's jobs report creates jitters; crude prices slide further
By Kate Gibson & Nick Godt, MarketWatch



NEW YORK (MarketWatch) -- U.S. stocks came under stiff selling pressure Thursday, with rising jobless claims, mixed retail sales and weaker oil prices fueling concerns about slowing economic growth both at home and abroad, while fears about ailing financial companies remained firmly in place.

"There's basically not much good news at the moment," said Ken Tower, vice president at Quantitative Analysis Service.

"The main concern is about growth and that there is a global slowdown now in the offing," he said. "The idea from 10 months ago that there was some sort of decoupling (between the U.S. and other economies) has fallen flat on its face."

Overseas, both the European Central Bank and the Bank of England kept interest rates unchanged, as they signaled rising concerns about weakening economic growth.

Meanwhile, crude-oil futures continued to slide, a sign that some analysts say also reflects concerns about slowing global growth. .......(more)

The complete piece is at: http://www.marketwatch.com/news/story/us-stocks-drop-sharply-global/story.aspx?guid=%7B2CC213C4%2DC0B0%2D484F%2DABA4%2D99982C74BB9A%7D

[lurky]

1. Mysterious rally at 3:30?

Wouldn't want to overshadow tonight's speech.
:tinfoilhat:

[elocs]

2. How about a big rally on Friday as an aftermath to McCain's speech? n/t

[Wednesdays]

4. Not today! Dow closes down almost 350. Ouch.

I'm gonna enjoy McSame's attempt to stumble through lines like, "The economy is basically sound. Err..." :popcorn:

[elocs]

5. My fear is that because the market seems to bop up and down

that a gain tomorrow, even if it makes up for today's loss, will be hailed as an affirmation of McCain and his speech.

[Warpy]

3. The awful truth is beginning to sink in, mabye,

that you can suck money out of the consumers and substitute debt for it only so long before servicing that debt means they have to stop spending.

Chicago School of Economics disciples honestly have no idea what to do next. Their models completely ignored the demand side except as something to be mined to favor big capital.

The next few years are going to be miserable but loads of fun to watch.