Dow Closes Week: Plummets Over 300 Points
- Posted on September 9, 2011 at 4:10pm by
Tiffany Gabbay
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NEW YORK (The Blaze/AP) — The problems that weighed down stocks all summer show no sign of letting up.
U.S. stocks are closing sharply lower, erasing the week’s gains. Rising fears about fallout from Europe’s debt crisis triggered the downturn. Seeking safer investments, investors sent the yield on the 10-year Treasury note to its lowest level in five decades.
The Dow Jones industrial average had its steepest decline in more than three weeks, a period marked by wild swings in prices and sentiment.
At the close of trading, the Dow is down about 304 points, or 2.7 percent, at 10,992. The Standard & Poor’s 500 is down 32, or 2.7 percent, at 1,154. The Nasdaq composite is down 61, or 2.4 percent, at 2,468.
Nearly six stocks fell for every one that rose.
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Comments (56)
just-saying
Posted on September 9, 2011 at 6:55pmEvery time Obummer gives an “important” speech, the markets tank. Tells us something (beyond merely that he should shut the heck up!)
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TXPilot
Posted on September 9, 2011 at 7:22pmI find it very funny that all the politicians and talking heads tell us “all is well” on Monday morning, when the market goes up, then just can’t seem to understand whats happening when it tanks on Friday. Here’s a newsflash people, we are headed into a financial hole that hasn‘t been seen in this country during it’s entire history. Don’t believe the idiots and liars that are telling you to invest in the market and trust in the dollar, because the house of cards is falling as we speak. Invest in things that have solid value, actually needed and can be traded…..food, water, guns, ammunition, etc, etc, etc….
Report Post »CatB
Posted on September 9, 2011 at 7:36pmWhy is Fox trying to spin this on Europe? .. every time Obama makes a “speech” the Stock Market TANKS! That is the truth!
TEA!
Report Post »Stoic one
Posted on September 9, 2011 at 9:43pmTry Googling ‘the american jobs act’ and choose the White House dot gov link. It is a short read and then you have it straight from the potus’s own mouth. Yes I forced myself to watch his campaign speech.
want to see the economy rise?? beat him in 2012. Mickey Mouse would do a better job.
Report Post »Parkeralan
Posted on September 9, 2011 at 11:12pmWell this is fair warning to all who plan and prepare. There will be at least 18 months more of this bad economy. Continued unemployment, inflation rising, home prices continue to fall. That is the upside until BO is replaced. Things may turn very very bad. Europe is in worse shape and have no printing press to bail there banks out like we do. US banks are tied to the sinking Euro ship and the possible pending collapse will make 08 look like a bake sale. Be prepared fellow Blazers, things will not get better any time soon, buckle up.
Report Post »sillyfreshness
Posted on September 9, 2011 at 6:36pmThe stock market is artificially propped up with cash from our government. When it goes up, it’s not due to increased production in their facilities, but rather, due to an influx of cash from the government. The stock market isn’t even a market anymore. The only reason why it’s done as well as it has is because these companies are sitting on mountains of cash in reserve, so it looks good on their books to have all that free flow capital. Problem is these companies aren’t using that cash for any purpose except to stash it. That’s why the stock market is artificially propped up.
Report Post »hauschild
Posted on September 9, 2011 at 9:57pmBingo.
The only way to play the market it seems is to pick winners. The days of throwing it all in an index fund and watching it grow are long gone.
Report Post »Parkeralan
Posted on September 9, 2011 at 11:17pmCorrect, if the dow was priced in line with reasonable P/E ratios it would be around 7,000.
Report Post »texanpatriot
Posted on September 9, 2011 at 6:13pmJesus said: The poor you will always have with you.
The difference between capitalism and socialism is that with capitalism the working poor are passing through while with socialism the poor are stuck and growing.
Think 2012 and beyond…
TEA
Report Post »TH30PH1LUS
Posted on September 9, 2011 at 6:11pmInvestment advice: .556, .45, and 12 gauge. The first is my long-range investment, the second is my short-range, and the third is to expand my portfolio.
Report Post »Winedude
Posted on September 9, 2011 at 9:25pmYou’re a sick, sick dude. Why are all the Tea Party metaphors about shooting or killing someone. Quite hard to understand.
Report Post »ChiefGeorge
Posted on September 9, 2011 at 6:07pmForget the stock market, its not a real marker of economic progress but more of a rigged casino game anyways. Face it, we have a president who wants to trash this country then take political cover under the guise of some half cocked spending plan, then blame the whole mess on republicans. he just might succeed if Americans are not savy enough to understand the game he is playing. The fact that this is a game should tell everyone he does not care if this country implodes or not. He could really get this country going again if he took real common sense approach to all of the regulations and taxations on businesses. Business thrived under Bush, but when they saw the socialist in-chief coming, they pulled the plug and ran away hence the crash of 08.
Report Post »sillyfreshness
Posted on September 9, 2011 at 6:33pmI hate to say it, but I remember saying “America is going to get what it deserves for electing Obama” and so far it’s been coming true.
Report Post »mwhaley
Posted on September 9, 2011 at 6:00pmI have a new movie. It is just like Conan the destroyer, except this will be a guy that gives speeches from business and the they die. This same guy can also give speeches from governments and the governments die. If only I knew who would fit the role.
Report Post »TRILO
Posted on September 9, 2011 at 5:50pmEvery time BHO or Bernanke gives a speech the market tanks. If anyone has been following the Euro problems the financial crisis will never be solved because they are too far in debt and the people riot every time austerity measures are put into place. Germany is in a power grab as they are the only country with any $$ left. They are now talking about a unified Euro where the countries would give up their financial sovereignty to an unelected group of banksters. If that path takes hold the fireworks will really begin. I can not imagine any of the citizens of these countries want to follow that path.
History shows us Socialism/Communism never works for the people it only works for the Socialist/Communist.
Report Post »Sy Kosys
Posted on September 9, 2011 at 5:44pmGot this in my email the other day, and it‘s really appropriate to ’spread the wealth’ here on the Blaze:
These are possibly the five (5) best sentences you’ll ever read:
1.. You cannot legislate the poor into prosperity, by legislating the
wealth out of prosperity.
2.. What one person receives without working for, another person
must work for without receiving.
3.. The government cannot give to anybody anything that the
government does not first take from somebody else.
4.. You cannot multiply wealth by dividing it.
5.. When half of the people get the idea that they do not have to work
because the other half is going to take care of them, and when the
other half gets the idea that it does no good to work, because
somebody else is going to get what they work for, this is the
beginning of the end of any nation.
GOD BLESS THE USA, and expose these statists for who and what they are…
Report Post »old man1
Posted on September 9, 2011 at 5:51pmthanks
Report Post »Bonnieblue2A
Posted on September 9, 2011 at 7:10pmI’m afraid the parasites will eventually kill their host (our Republic). They have already weakened her substantially. The terminal demise of this patient will certain under another 4 years of Obama. This Republic needs a doctor who is willing to prescribe a cure: the US Constitution!
Ron Paul 2012!
Report Post »PoliticalJunkieToo
Posted on September 9, 2011 at 5:42pmEven the markets don‘t trust Obama and quite obviously didn’t like what he had to say yesterday in his speech.
Every time Obama gives a “jobs speech”, the markets TANK. In 2 weeks we get to here the rest of the speech as the man likes to hear himself talk. Too bad no one is listening anymore. They hear long enough to know he isn’t saying anything new and tune out and the markets crash.
Report Post »disenlightened
Posted on September 9, 2011 at 5:42pmDown 304 points. The Market tells Obama what they think of his Jobs Speech!
Report Post »Sy Kosys
Posted on September 9, 2011 at 5:42pmThese lefty-loonies biotch and moan about those evil b@astardos called ‘millionaires and billionaires’, but the FAIL TO SAY ANYTHING about the increase and rise in the ‘millionaire community’. More and more ppl are joining the ranks of this 7-digit club! Is that NOT A GOOD THING?!?!?
U.S. Has Record Number of Millionaires
http://blogs.wsj.com/wealth/2011/06/22/u-s-has-record-number-of-millionaires/
In the eyes of our President, and the Left in this country, they would rather annihilate the evil rich, those according to that article TOTAL about 3 million people (basically about 1% of the population)…they would rather bring them down rather than champion their successes and bring others up to their ranks. Misguided doesn’t BEGIN to describe that logic
EVERY DAY the Reagan-model of “trickle-down” economics is proven true time and time again.
Those same new millionaires didnt just simply exist from nothingness, they rose up thru the economy and made it work for them!
Mr President, since the wealthiest among us pay the lions’ share of the tax burden, is it NOT a good thing that there are MORE OF THEM TO PAY??!!???
Report Post »georgeisn6
Posted on September 9, 2011 at 5:41pmIf you dont think SS is a ponzi scheme just ask any 25 yr old worker if they expect to get a dime out of it.
Report Post »TeaPartyPatriot
Posted on September 9, 2011 at 5:37pmOver the weekend, the euro-trash socialist clowns (pardon the redundancy) will, once again, for the 32nd time, announce that they have a “solution” to the problem of the socialist entitlements and the massive, OBOZO-level debt that is destroying their economies and countries. The markets will then shoot up on Monday.
Two months later, everybody will see that the euro-trash socialist clowns know as much about fixing anything as does NO-PLAN OBOZO and have , like OBOZO, failed yet again. The markets will, predictably, crash as they have done repeatedly before.
INSANITY = doing the same thing over and over again but expecting a different result.
Hint: buy low, sell high – the ONLY method that works. And with grossly incompetent leftist politicians worldwide, it’s now easier to do than ever before.
Report Post »georgeisn6
Posted on September 9, 2011 at 5:36pmThere will be poverty for ever one except for the communist party leadership they of course will live high on the hog on what they conficate from the rest of us, if there is any one who can remember just a short time back in history, they will know what is in store for us. The Russian communist’s wiped out 50 million of their fellow Russians. Then the Chinese Communists not to be out done wiped out 60 million of their fellow Chinese. That has been the historic pattern where Communist goverments come to power. Do you think the American communists can out perform the Chinese?
Report Post »RootsOfTruth
Posted on September 9, 2011 at 5:31pmjust a quik search & found this…
The Dow closed at 9605.51 on Sept. 10, 2001 The Dow Jones Industrial Average climbed mightily in the 1990s, more than quadrupling in value during the decade…
Great Policies Barry! >.<
Report Post »RootsOfTruth
Posted on September 9, 2011 at 5:47pm& for s**ts & giggles…
Americans will be looking for a unity speech and sense that he can fix the problems. The work on those problems starts tomorrow. The work to restore confidence starts today.
11:54 — Note in Aretha Franklin singing “My Country T’is of Thee” the echo of Martin Luther King’s “I Have a Dream” speech in 1963.
12:03 — Just for fun, track the Dow Jones average during the address. It’s now down about 140.
12:05 — Well, let’s hope that the presidency goes better than the swearing-in…
thats from:
http://blogs.palmbeachpost.com/inauguration/tag/dow-jones/
Jan. 20 (Bloomberg) — U.S. stocks sank, sending the Dow Jones Industrial Average to its worst Inauguration Day decline, as speculation banks must raise more capital sent financial shares to an almost 14-year low…
The S&P 500 plunged 5.3 percent to 805.22. The S&P 500 Financials Index fell 17 percent to below its lowest closing level since March 1995 as concern European banks need more capital also weighed on the group. The Dow average slid 332.13 points to 7,949.09. Both the Dow and S&P 500 retreated to two- month lows.
that part is from:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOYw.awwsNSg
Report Post »Wringeaux
Posted on September 9, 2011 at 5:20pmIf you time it right you could get rich. Buy stock just before the 2012 elections. When he loses the market will skyrocket ! Ya’ think ?
Report Post »CatB
Posted on September 9, 2011 at 5:27pmObama talks … the stock market tanks .. anyone else see a pattern … Marxists are not good for business!
TEA!
Report Post »Micmac
Posted on September 9, 2011 at 5:47pm@ catb
and bernanke too
NoBama 2012
Report Post »ShamanWorld
Posted on September 9, 2011 at 5:16pmRick Perry would have been more astute if he would have called Wall Street and it’s stock market the “ponzi scheme”. The seesaw with the Dow is just the“birth pangs” so to say. IMO people better pull out of the stock market(at least while it’s relatively high), and buy low if and when it’s safe to do so. Buy low, sell high. Obama wanting to borrow more= just a band-aid…We need bold, mind,spirit and soul altering changes on the local level if we can save the USA. We are in the USA, anyone in North or South America can be American, we should call ourselves US Citizens accordingly.
Report Post »Dangerous Dave
Posted on September 9, 2011 at 5:31pmI don’t think the stock market is a ponzi scheme, but I do believe it is not a place for long-term investors. The fundamental data of the companies whose shares trade on the exchanges and over-the-counter are not reliable enough for me to commit any meaningful amount of investment capital to. Today’s market, with the volatility, is a good place for short-term traders that use the supply and demand for shares as their criteria for buying and selling. If you have capital exposed to stocks and bonds, it would behoove you to determine what type of investment philosophy your manager pursues.
Report Post »The days of buy and hold are long gone.
Dobodura
Posted on September 9, 2011 at 5:02pmMaybe Obama should stay home instead of spewing his socialist rhetoric all over this great nation. Every time he opens his mouth, the market goes in the toilet. Maybe someone should find a key and lock him in so he can’t get out until after the 2012 elections. The country would be much better off.
Report Post »LinkedIn G
Posted on September 9, 2011 at 5:02pmHow many more speeches will obama give ? I don’t know how many more we can afford.
Report Post »capecodsully
Posted on September 9, 2011 at 4:58pmWell we told you that was going to happen. Keep talking Obama! Invite Trumpka over for dinner, that’ll be good for another dive.
Report Post »RightPolitically
Posted on September 9, 2011 at 4:56pmQuick, have Obama give another speech. That ought to turn things around…… Ha, ha!
Report Post »Dangerous Dave
Posted on September 9, 2011 at 4:47pmI love how the lamestream financial press is so quick to attribute the selloff in stocks to worries about the eurotrash markets……and they fail to mention that maybe, just MAYBE, the market knows that Obummer has no clue, and economic growth will not occur as long as the usurper in Chief is in office.
Report Post »The (not so shovel-ready) jobs plan was just another steaming pile of stimulus fecal matter, and the Congress is tired of the same old stale script from the teleprompter in chief.
Blackop
Posted on September 9, 2011 at 4:53pmBy ‘userper in chief’ you mean our democratically elected president, right?
Stop taking nips off of the bottle. It’s making you irritable and senseless.
Report Post »Dangerous Dave
Posted on September 9, 2011 at 5:03pm@BlackOp Why would I be irritable? I love watching your messiah flounder. I’ve profited handsomely from his cluelessness, but I do feel for the millions that are suffering. I don’t feel for you, as it’s long since time you get a real job, because either your foodstamps are going to eventually run out, or you will soon be laid off, since the government is bankrupt and will have to downsize yourazz!!!!! I think I WILL have a drink. It makes me happy to know that my taxes are supporting you. I’d rather see you living in government-paid housing, and not dumpster diving for sustenance like you and Obumbler’s constituents!
Report Post »Anonymous T. Irrelevant
Posted on September 9, 2011 at 5:03pmYou mean that guy, whose eligibility was never certified?
Report Post »Blackhawk1
Posted on September 9, 2011 at 5:25pmBlackop
Posted on September 9, 2011 at 4:53pm
By ‘userper in chief’ you mean our democratically elected president, right?
Thank God The United States of America is a Representative Republic so yes Obama is an userper.
Report Post »cessna152
Posted on September 9, 2011 at 4:47pmEvery time Odumbo opens his mouth things go to hell.
Report Post »TomFerrari
Posted on September 9, 2011 at 4:46pmEVERY STINKIN’ TIME the SPENDAHOLIC-IN-CHIEF opens his mouth, the market TANKS!!!
.
.
EVERY TIME!!!
.
.
obama IS THE PROBLEM, so, by definition, obama CANNOT fix the problem !
.
.
.
…unless he wants to resign for the good of America.
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cessna152
Posted on September 9, 2011 at 4:50pmYou beat me to it… sorry. However, I know the answer to fixing the job market and [hint] it has nothing to do with Obama and his ridiculous policies, taxes and regulations. I can’t believe we have 16 more months of destruction under this Nazi/Marxist hybrid.
Report Post »ShamanWorld
Posted on September 9, 2011 at 6:08pmTom. You are sadly mistake if you think the next Republican elected POTU(besides Ron Paul) will be drastically different than Obama or Bush Jr. Our country is under control of the corporations; they choose Presidents for us( the people) to vote for. Palin/Perry/Romney are all just like Obama(willing to play the game).And just like Obama before he was elected into office, he sounded so wise and so inspirational, but when he got in he does the work of the people who really got him there(Corporate complex) Bush Jr. was Military/Oil complex under the disguise of “compassionate conservatism”. People wake up!! By 2012 it will be too late to realize BOTH sides are bamboozling us all.
Report Post »chazman
Posted on September 10, 2011 at 6:55am… OBAMMY is the problem, but let’s not forget the State Controlled Media! The SCM is the second biggest enemy the American people have …
Report Post »majorsco
Posted on September 9, 2011 at 4:46pmLeave it to Obama. Every time he opens his mouth the market crashes. Maybe he should keep quiet for a change and just go away!
Report Post »TomFerrari
Posted on September 9, 2011 at 4:48pmLOL, you beat me to it.
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