Business
Dow Hits Lowest Point of 2011: Plummets 266 Points Amid Faltering Economy
- Posted on August 2, 2011 at 5:02pm by
Tiffany Gabbay
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NEW YORK (The Blaze/AP) — A sell-off is erasing all of the year’s gains in the stock market.
The Standard & Poor’s 500 lost 2.6 percent Tuesday as investors grew increasingly concerned about the economy. The benchmark index is now at its lowest point of the year.
A report that consumers cut their spending in June for the first time in two years added to a series of weak economic indicators have pushed stocks lower for seven straight days.
The S&P is closing down 33 points to 1,254. The Dow Jones industrial average is down 266, or 2.2 percent, to 11,867. The Nasdaq is down 75, or 2.8 percent, to 2,669.
Four stocks fell for every one that rose on the New York Stock Exchange. Volume was higher than average at 5.3 billion shares.
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Comments (119)
LadyIzShy
Posted on August 2, 2011 at 5:42pmit was only a matter of time before this started. I have thought that the WH and treasury was doing some secret deals and LYING to keep the dow up as high as it was.
Praying dear heavenly Father PLEASE PLEASE PLEASE protect this nation from those that wish to do her harm, both from within and out. Please let those in power see the error of thier ways before it is too late.
Report Post »TMunson
Posted on August 2, 2011 at 6:14pmAmen
Report Post »Vixvenom
Posted on August 2, 2011 at 6:18pmI think tomorrow will be worse…..we’ll see
Report Post »willbedone
Posted on August 2, 2011 at 6:24pmToo Late!
Report Post »seeker9
Posted on August 2, 2011 at 7:02pmMost investors are preparing for the unemployment numbers Friday. 8 down days in a row, a bounce is over due. Could buy APPL in the next few days or weeks to hold into Christmas season.
Report Post »turkey13
Posted on August 2, 2011 at 7:17pmMy wife an myself cashed our 401′ks when the market hit 11,500 the first tine and never looked back. Bought silver and gold and doubled our money but had to get another safe deposit box. Our kids thought we were nuts but have since bought gold and silver after mostly gotten out of the market. One of my sons told me he wished he had listened to me before they finally did.
Report Post »WeMustNeverForget
Posted on August 2, 2011 at 8:32pmWow!! The country burns and crashes while Obama wishes all a happy ramadan, (still waiting on Happy Easter), then goes out and celebrates his bday at the tune of $30,000 “donation” per couple. Go figure. How can I put into words what I truly feel **heavy sigh** except to say, please God we need someone who can defeat and undo what this anti-american has done to this great country of ours! God have mercy on America.
Report Post »Americanman827
Posted on August 2, 2011 at 11:59pmAMEN, Lady, AMEN
Report Post »lobster
Posted on August 3, 2011 at 12:27amAMEN!!! Remember a big chunk of money coming into Wall St. is foreign money. They don’t have any place to put it. When you preach tax the rich you get no cofidence in the con men running our country. Remember almost 50% of the GDP comes from construction and all its allied items, when you destroy the housing industry as BHO has done you will reap the whirl-wind.
Report Post »StargazerInSavannah
Posted on August 3, 2011 at 12:23pmSurely you must be referring to the Democratic party its leader with the Marxist redistribution fetish.
Report Post »terryhamilton
Posted on August 3, 2011 at 5:38pmI agree with you in prayer for our nation
Report Post »Rancher2
Posted on August 4, 2011 at 11:40amI believe the dye has been cast! The representative body has gone against the will of the people. We wanted austerity and they decided to get a new credit card . The world watched and caused the market to react negatively. We do not have leadership in Washinton,at any level! http://Www.GOOOH.com is the best answer! Most of these politicians are “our friends”. Who could look friends in the eye and produce this kind of environment. We need to retake our country in 2012. Support the tea party and GOOOH.com
Report Post »smithclar3nc3
Posted on August 4, 2011 at 11:55amiT’S LOWER TODAY
Report Post »Jaycen
Posted on August 2, 2011 at 5:35pmWe should crank up interest rates. I get blowback every time I say this, but it would immediately spur savings and investment. Both are good for our country and our economy.
Report Post »ProbIemSoIver
Posted on August 2, 2011 at 5:58pmCREDIT = License to deal with LOAN SHARKS
STOCK MARKET = GAMBLING
Report Post »101
Posted on August 2, 2011 at 6:27pm@JAYCEN
Investors/businesses are saving/banking their money due to investment are a losing proposition. What could you invest in without throwing away your savings in a failing system? Manufacturing is a lost cause, semi-conductors moved to China, invest in housing (to many foreclosures) would enrich the banking system the same banks that caused the housing crash, so construction is out. Without the government stepping in and doing something about importing & exporting and ending restrictions in the US, leaves us at a stale mate. Higher interest rates only make the bankers/elite richer, it doesn’t help the economy they already bled the people!
Kicking the 30 million illegal’s out & reducing government 20% BO increased it, would be a great start!
Report Post »Psychosis
Posted on August 2, 2011 at 5:34pmyou would think the huff and puff would run this on the front page
oh wait…………………its the huff and puff……………nevermind
Report Post »flamegonesilver
Posted on August 2, 2011 at 5:34pmAll my thanks to Mr. Hope & Change-Get to the back of the bus-Eat your peas ’cause that‘s all you’re gonna have to eat when I’m done with this country!
Report Post »ProbIemSoIver
Posted on August 2, 2011 at 5:33pmI meant wall street “investors” There are good investors that invest in businesses that provide jobs, and help the community.
Report Post »ProbIemSoIver
Posted on August 2, 2011 at 5:42pmBut wall street “investors” are worthless degenerate gamblers. They invest in corporations that destroy our country. Soon there will be a stock market “freeze”. Systems will be overloaded. You will not be able to withdraw. You will lose all !!! If BLAZE removes this again, I don’t know why. I got this Info from the BLAZE !!!!
Report Post »texasfarmer
Posted on August 2, 2011 at 5:32pmHold on to you butts. The roller coaster is about to start.
Report Post »MidWestMom
Posted on August 2, 2011 at 6:10pmYep. With a guaranteed flip off the track before the ride is over.
Report Post »338lapua
Posted on August 2, 2011 at 5:30pmWow….I am just so shocked……who ever would have seen this coming.
Report Post »I am SO glad the “smart people” elected a socialist DOLT. Even McCain wouldn’t have done as poorly as this……….
{THUD}
Dropped dead of sarcasm overdose.
worthless
Posted on August 2, 2011 at 6:07pmHey, the lapua round is one of my favorites for long range shots
Report Post »terryhamilton
Posted on August 3, 2011 at 5:42pmI disagree. McCain is every much a Socialist as Obama. The huge difference is with McCain the T-Party movement would have never exploded and he would have been far more successful in using stealth to hide his agenda from the people. At least with Obama the American people have woke up and the T-Party is on the move.
Report Post »gdoggie
Posted on August 2, 2011 at 5:28pmThere’s a monster on the loose he got our heads into a noose. His name is obama
Report Post »MidWestMom
Posted on August 2, 2011 at 6:14pmHe’s a corporeal demon working for the soros devil
Report Post »worthless
Posted on August 2, 2011 at 5:28pmHey, I know! Let’s re-elect this guy for another four years of “prosperity”.
At least he’s followed through on his campaign promise: Our Hope has disappeared and our country is Changing for the worst! That’s why he never clarified on his Hope&Change theme. He didn’t want to spoil the secret.
Report Post »TAKE_NO_PRISONERS
Posted on August 2, 2011 at 5:27pmBarry Jr. time for another QE, come on Barry Jr. do it, Krugman would get a tingle up his middle short leg if you do.
Report Post »CulperGang
Posted on August 2, 2011 at 5:27pmIn your face obama. Rasing the debt limit scaring the crap out of people “falsely” DIDN’T WORK. In your face. Wall Street is not bamboozled by your lies.
Debt ceiling is all about “Redistribution.“ More money for you to steal from ”whitey capitalist” to give to Black farmer who weren’t farmers at all just racist hustlers like you Obama. The boys on wall street got your number even if the liberal retards on mains stream usa don’t.
More money for you to send to Egypt so they can build mosques. More money for you to give to Palestinians to undermine Israel. More money to illegals here so that they vote for your black ass.
Report Post »YUP. The boys on Wall Street got your number. IN YOUR FACE.
concealled9mms
Posted on August 2, 2011 at 5:49pmright on friend
Report Post »vinnymac46
Posted on August 2, 2011 at 5:22pmOnce again…how much hope did you put in change?
Oblama’s 2012 victory speech…Ha, Gotcha Again!!!!!!!!!
Report Post »Uncurable wound
Posted on August 2, 2011 at 5:21pmall together now”Happy Happy,Joy Joy,Happy happy,Joy…”
If your just waking up now,go back to sleep its to late…
Can someone get me a Fiddle so I can watch it all burn…
Report Post »Psychosis
Posted on August 2, 2011 at 5:19pmi closed out my 401 k LAST WEEK
BOY DID I GET LUCKY oh wait , luck had nothing to do with this, i saw this coming
Report Post »CulperGang
Posted on August 2, 2011 at 5:34pmYou guys need to listen to conservative financial shows…….they told you about a year ago to run from the stock market. When you come right down to it,waill street IS a RICH MANS GAME. It is nothing more than a crap table based on ASSUMPTIONS of the future…………and tomorrow never comes……….because it is here and now. Unless you have time to watch one or two companies to see how they are run/what they are doing on any given day and follow your investment with them……relying on someone to watch your money is like giving a stranger the keys to your house.
Report Post »Gonzo
Posted on August 2, 2011 at 5:16pmAll you idiots that voted for this buffoon deserve this. Unfortunately, the rest of us are along for the ride. At this point, McCain almost looks good.
Report Post »Stopit
Posted on August 2, 2011 at 6:35pmNah.
Report Post »williemartin
Posted on August 2, 2011 at 5:16pmIs this the change that they were hoping for? Be careful what you wish for, you just may well get it, but are you willing to give up what it take to have it?
Report Post »SREGN
Posted on August 2, 2011 at 5:14pmObama’s chickens have come home to roost.
Report Post »THX-1138
Posted on August 2, 2011 at 5:13pmYuppers. Anyone that still has any wealth just got told to hide it. And pray.
I wonder how soon I’ll need to cash out my 401K to keep them from confiscating, excuse me, repurposing it for me…
Report Post »JoMo
Posted on August 2, 2011 at 5:23pmIf I were you, I would have taken it all out last week, anticipating what this debt deal was gonna leave us with. Fortunately, there is always today, but tomorrow may be too late.
Report Post »concealled9mms
Posted on August 2, 2011 at 5:54pmi took out mine a few years back sold 2 of my construction cos just in time and my azz is now building in jaco costa rica . by the way in costa rica my full blown health insurance is 900 a year. and yes the doc are mostly schooled in the usa and my medicine for my heart is american made and 75 percent cheaper . im outta here
Report Post »Snowleopard {gallery of cat folks}
Posted on August 2, 2011 at 5:12pmOh do you not just love the way the wonders of the Obama-economical fiasco farces work? They inspire just so much loving, leftist, liberation of maloderous magnificent magnamous retching that the very day the Self Exalted One (in his own mind and bind) of the United States of Obama the markets crash downward in the complex hope of utter despair and hard landing into the walls of reality.
Sarcasm is purely intentional and directed at the disaster and utter failure of the Obama admin and his lunatic ideology and treasonous moves to dominate everything.
Report Post »101
Posted on August 2, 2011 at 5:12pm…and gold hits a historic high
Report Post »RIGHTHOOK
Posted on August 2, 2011 at 5:16pmThis is a precarious time to say the least……..if interest rates rise gold will fall like a rock and buying the coins, paying for the storage and then the fee for selling again all add up. So what is the formula as the dollar also plummets along with a jittery market???
Report Post »101
Posted on August 2, 2011 at 5:41pm@RIGHTHOOK
Report Post »There will always be the naysayer’s that will never succeed due to lack of knowledge and/or fears of investing …don’t waste my time explaining something you so strongly oppose.
concealled9mms
Posted on August 2, 2011 at 5:57pmrighthook i been buying gold for forty years what the hell are you talking about STORAGE MY GOLD HAS ALWAYS BEEN MAILED TO ME AND I DONT PAY FEES . I BUY AT A PRICE AND SELL WHEN THE TIME IS RIGHT AND I DONT PAY TA— ON IT
Report Post »RIGHTHOOK
Posted on August 2, 2011 at 6:44pm@Concealled and 101 – Wow, hitting a nerve here……..I am fine with gold and absolutely have considered it so naysayer is not applicable. I am just attempting to figure this financial insanity out that BHO and his minions are orchestraring. Traditional means are no longer valid.
Report Post »And yeah, there are storage fees and selling fees if you transact with some of the high profile brokers. Your 40 years of transaction experience with whomever makes sense to me.
Ease up……..
101
Posted on August 2, 2011 at 7:18pm@ RIGHTHOOK
Search: US Mint Authorized Dealers …then do your research. http://www.usmint.gov/mint_programs/american_eagles/?action=lookup
You always pay over spot (it’s a business) but you can resale coins at or above spot to private buyers or sell under spot to a dealer…you cannot purchase enough gold to warrant storage fee’s, silver is another story. Get a safety deposit box.
Gold/silver Is our defense against the fiat currency. Ask yourself what you would rather be holding!
Report Post »RIGHTHOOK
Posted on August 3, 2011 at 8:43amIn the process of doing my homework. Thx for the insight…….
Report Post »JoMo
Posted on August 2, 2011 at 5:09pmHold on tight, gang, the ride has just begun…………….
Report Post »Remember those Bibles and guns Obummer chided about?
Make sure you know how to use them both!
virgie morgan
Posted on August 2, 2011 at 5:27pmThat pretty much says it all!
Report Post »SpankDaMonkey
Posted on August 2, 2011 at 5:09pm.
Report Post »And the Trained Seal’s will Clap. This is really not being able to see the forest through the trees. They did not fix a thing………..
million
Posted on August 2, 2011 at 5:09pmYou can bet Obama is dancing a jig right now. Everything is going according to plan.
Report Post »RIGHTHOOK
Posted on August 2, 2011 at 5:20pmAnd his dancing partners are Soros and Sunstein……….and Hilary. Wow, that is a really bad visual come to think of it!
Report Post »heavyduty
Posted on August 2, 2011 at 5:07pmNow let the Dems try to blame the sliding market on the Tea Party. We are the one keeping from going to an F.
Report Post »miles from nowhere
Posted on August 2, 2011 at 5:04pmHow is that hope and change working for you?
Report Post »Erabin
Posted on August 2, 2011 at 5:40pmPretty good. I work for a German company though, so your mileage may vary.
Report Post »joe1234
Posted on August 2, 2011 at 10:49pm@erabin serfdom becomes you.
Report Post »