DOW Plunges Over 500 Points

Hey, we needed the bailout, remember? It was going to save us from our economic woes and rescue Wall Street!

The bill was not designed to rescue the Dow. So the OP is pointless. Somehow "preventing an economic meldown" got translated into "making the Dow go up". Interesting.

kevinlee wrote:The bill was not designed to rescue the Dow. So the OP is pointless. Somehow "preventing an economic meldown" got translated into "making the Dow go up". Interesting.

The DOW going down rarely coincides with economic prosperity.

leonard wrote:The DOW going down rarely coincides with economic prosperity.

Depends. A one day drop doesn't say much about anything. Regardless, when was the claim made that the bill would lead to "economic prosperity by Monday, October 6th?". I guess making the issue one of a series of strawmen is easy, but it's also pretty lame.

NEW YORK - Despair about a weakening global economy is sweeping across Wall Street, propelling the Dow Jones industrials down as much as 800 points and fell below 10,000 for the first time in four years. Investors around the world have been selling off stocks as they come to realize that financial systems in the United States and other countries need more than government bailouts to fix them.

The Dow is in striking distance of its biggest one-day point decline — 778, which the blue chips suffered a week ago when investors feared the bailout package might not pass Congress.

Investors around the world have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets. Global banks, hobbled by wrong-way bets on mortgage securities, remain starved for cash as credit has dried up.

Source:

Wow, i wouldnt want to talk about the economy either if i was McCain, this is horrible news, we need to get our candidates to stop throwing mud and begin to tell us their comprehensive plan for correction.

It's down over 800 now.

Do you have a point, or are you bucking for a job on CNBC?

the vix is at 50. This is it, the world is over.

If the world is over, why can I still post?