Business

Markets Take a Beating: DOW Tanks Almost 400 Points

Stocks have taken a sharp downwards turn, the worst in a six week period, and most analysts are blaming this on the uncertainty and worries surrounding the eurozone.

Interest rates on Italian government debt spiked, evidence that investors are losing faith in the country’s ability to repay its debt.

In Greece, power-sharing talks fell apart between the country’s two main political parties. That raised doubts about whether a default can be avoided.

The Dow sank 3.2 percent to close at 11,781, the biggest drop since Sept. 22.

The S&P 500 lost 47 points, or 3.7 percent, to 1,229.

The Nasdaq slid 106, or 3.9 percent, to 2,622.

Nine stocks fell for every one that rose on the New York Stock Exchange. Trading volume was high at 4.6 billion shares.

The U.S. financial sector also took a severe beating because of eurozone worries (via Business Insider):

The Associated Press contributed to this story.

Comments (60)

1 2
  • Gypsy123
    Posted on November 9, 2011 at 10:10pm

    Dent said one more rebound before 2012 and the down she goes I wonder if this is the big one? Hope every one is ready for this ride.

    Report Post » Gypsy123  
  • mcmeador
    Posted on November 9, 2011 at 9:11pm

    I hope all that stock that Warren Buffet just bought up took a nosedive as well.

    Report Post »  
  • Charles
    Posted on November 9, 2011 at 8:22pm

    Here’s my favorite video of empty China malls and cities. They were still building at the time even though the places were deserted.

    http://www.youtube.com/watch?v=rPILhiTJv7E&feature=results_video&playnext=1&list=PLC67A06C19544C93A

    Report Post »  
    • Psychosis
      Posted on November 9, 2011 at 8:54pm

      ya ive seen this though the morons in the media swear it aint so

      this is why chinas gdp is so high ……………………but like every bubble , this one too will pop and when it does it will make one heck of a mess

      Report Post » Psychosis  
  • hauschild
    Posted on November 9, 2011 at 8:19pm

    This is hilarious! Watch as the market rebounds based on some yet-to-be-announced sham. It’s happened twice now over the past few months.

    How anybody can buy into this scam is beyond me. I just wonder how many more false promises will artificially raise the market before the majority finally catches on. It‘s pretty scary when you think about how much money could be lost before it’s all said and done. The only question I have is when it is going to be. Now? 6 months from now? 2 years from now?

    Report Post »  
  • TRILO
    Posted on November 9, 2011 at 7:43pm

    This is just the beginning. Greece is a lost cause and Italy is history and their debt to gdp ratio is 118% which is less than Greece. The US debt to gdp ratio is now at 100%. None of these figures include unfunded liabilities of Social Security, Medicare, Medicaid and federal pensions. From George Bush forward this country has been on a massive spending spree and on a down hill slide. Deficit spending for wars, bailouts (including domestic, foreign and corporate), handouts and welfare; not to mention the suppression of our cherished freedoms; the American dream has been put on ice. Our children and grandchildren will grow to hate us for what we have done to them.

    We were all asleep at the wheel as the appearance of prosperity was all around us and we never looked past the curtain. Unfortunately, our time is running out. Thankfully some of us have awaken to the troubles of our country so that we can prepare for our families and prepare for others Apparently, the sheeple are too busy concerning themselves about “19 and Counting” adding another kid to the mix.

    Report Post » TRILO  
  • nohussein
    Posted on November 9, 2011 at 7:34pm

    I know, MORE regulations, MORE socialism, MORE taxes, that will will fix it, the hussein says so, ya,ya, ……..

    Report Post » nohussein  
  • Mahdi Al-Dajjal
    Posted on November 9, 2011 at 7:31pm

    Outlaw_Josey_Wales
    Posted on November 9, 2011 at 6:16pm

    China real estate bubble is about to bust, when it does, china will no longer have the money to loan to other countries for bail outs. I see a world wide depression on the horizon

    ———————–

    Yep. Definitely a global depression where all economies come crashing down. And out of the ashes will rise the Left’s “New World Order”. People who refuse to participate for the good of everybody will be re-educated. Those who cannot be re-educated or refuse to be re-educated will be deemed to be “undersireables” and will be shipped to labor camps and forced to work. Those who refuse to do that will be executed. It’s no big surprise what happens. We’ve seen it all before in history. Except this time, there won’t be any Calvary coming to the rescue.

    Report Post » Mahdi Al-Dajjal  
    • hauschild
      Posted on November 9, 2011 at 8:09pm

      This would never happen – at least at this point in time. There are too many people still tied to traditional American ideals, and I would bet 20% would not go quietly. That type of percentage is too big to quell when you’re talking about a pot consisting of some 300 million.

      It will take more “dumbing-down” for a few more generations, maybe 20-30 years from now, it would stand a more realistic shot of happening.

      Report Post »  
  • cabnetdude
    Posted on November 9, 2011 at 7:02pm

    There is coming very very soon, a huge crash! Life will never be the same.

    Report Post »  
    • Ookspay
      Posted on November 9, 2011 at 7:43pm

      The only ones who do not feel it coming, are those who have allowed too much noise in their lives. Noise and distractions which are drowning out the obvious sirens and warnings.

      The actors and jesters are here
      The stage is in darkness and clear
      they’re raising the curtain and no-one’s quite certain
      Whose play it is
      How long ago, how long?
      If only we had listened then
      If we’d know just how right
      We were going to be
      For we dreamed a lot
      And we schemed a lot
      And we tried to sing of love before
      The stage fell apart

      If everyone was listening, you know
      There’d be a chance that we could save the show
      Who’ll be the last clown to bring the house down?
      Oh no, please no, don’t let the curtain fall

      Well, what is your costume today?
      Who are the props in your play?
      You’re acting the part which you thought
      From the start was an honest one
      Well, how do you plead?
      An actor indeed! Go re-learn your lines
      You don‘t know what you’ve done
      The finale’s begun:

      Supertramp: If Everyone Was Listening

      Report Post » Ookspay  
  • Dougalug
    Posted on November 9, 2011 at 6:13pm

    It`s ok everyone ubama is our president and he`s an expert with… um, er,oh never mind. We`re in deep do do. yes sir.

    Report Post »  
  • GTH
    Posted on November 9, 2011 at 5:55pm

    Awwwww, too bad! The poor dowboys fall down go boom.

    Report Post »  
    • quicker
      Posted on November 9, 2011 at 6:15pm

      The bad thing about it is my 401k fell down and went boom too.Along with many othersOh wellI guess no retirement for me.

      Report Post » quicker  
  • Founding Father2
    Posted on November 9, 2011 at 5:39pm

    BREAKING NEWS…

    Thanks to Rand Paul for announcing this. The Democrats have now walked away from the table at the Supercommittee and are now done until the Republicans bow to their demands and their plan. Here is Rand Paul reporting this: http://www.thedailycandidate.com/video/2011/nov/dems_walk_supercommittee.html

    Report Post »  
    • Susan Harkins
      Posted on November 9, 2011 at 5:45pm

      Thx Founding.

      Report Post » Susan Harkins  
    • YoungBloodNews
      Posted on November 9, 2011 at 5:54pm

      Is this any surprise? THEY are the do-nothing side.

      On Topic: GET YOUR $$$$$ OUT OF THE MARKET! Invest in guns, bullets, seeds, and land if you can afford it! The house of card will soon come down. The market spikes on rumors and talk and sinks when reality sets in. They still have Portugal and Ireland to deal with too (and others?)

      Report Post » YoungBloodNews  
    • TheVoice1
      Posted on November 9, 2011 at 6:11pm

      Thanks for posting the link here Founding. Everyone should go to it and hear this insanity!!

      Report Post » TheVoice1  
  • Eblaze44
    Posted on November 9, 2011 at 5:32pm

    So, this is that Global economy the government is so keen on. How about we come back to reality and begin to have an economy of our own. Manufacture our own goods and groceries and work on our energy production. Let Europe figure out their own problems – can‘t say that Margaret Thatcher didn’t warn them.

    We seem to be following the same track as states like California, New York, New Jersey and Illinois find themselves bankrupt and now Ohio is on the way down as well. The rest of America will soon grow tired of supporting their Socialist ways.

    Report Post » Eblaze44  
    • Stoic one
      Posted on November 9, 2011 at 8:13pm

      LOL- Well the unions got their way and SB5 is now repealed.Most of the tax levies throughout the state were also shot down.
      GEE… so now there will be layoffs and no new fire engines and school books and police bullets because WE ARE BROKE!

      Mean while Wisconsin is balancing the books keeping employees and some municipalities are showing a surplus.Go figure.
      One good thing here in Ohio the unions blew through twenty five million dollars that they now will not have for the 2012 election.

      Report Post » Stoic one  
  • RightPolitically
    Posted on November 9, 2011 at 5:20pm

    In end is NEAR! Thank you, SOCIALISTS.

    Report Post » RightPolitically  
    • CatB
      Posted on November 9, 2011 at 5:25pm

      Have to admit .. Obama has done a heck of a job .. to bring down the United States and turn us into OWG .. along with RINO’s and most of Washington who do not have a d*mn backbone! TREASON I SAY!

      TEA!

      Report Post »  
    • Susan Harkins
      Posted on November 9, 2011 at 5:43pm

      @CATB

      Ditto.

      Report Post » Susan Harkins  
  • This_Individual
    Posted on November 9, 2011 at 5:20pm

    How many times did the market rise and plunge before the great depression?

    Report Post »  
    • Susan Harkins
      Posted on November 9, 2011 at 5:48pm

      Uhm….the same number of times (and amplitudes) as now?

      What a coincidence! ;;;wink;;;

      Looks like history indeed rhymes!

      Report Post » Susan Harkins  
  • commonsenseguy
    Posted on November 9, 2011 at 5:07pm

    just think with all of these socialist countries about to go bankrupt and the unions destroying everything in site,our great leaders here are trying to send us down the same horrible path, we have to get rid of every single one of them and quick,before we are totally under a communist regime,all of these everything is free countries are broke and their health acre system in in ruins just about as bad as their economy and our government just keeps drugging on down the same path.

    Report Post »  
    • motonutt
      Posted on November 9, 2011 at 5:20pm

      Many conservatives said last week after the markets went up that it was not going to last….it was a false rise only due to news, not real results…..

      Report Post » motonutt  
  • martinez012577
    Posted on November 9, 2011 at 5:07pm

    You know what else is headed down? TheBlaze.com. Check out the picture they put of Dr. Ron Paul on one of the earlier threads. Tell me if that has been cleansed in the fire of truth or is there malicous intent with that picture.

    Report Post » martinez012577  
    • KickinBack
      Posted on November 9, 2011 at 5:17pm

      You mean the one where Paul is going “Grrrrrrrr!” That is great! Cracked me up.

      Report Post » KickinBack  
    • Eblaze44
      Posted on November 9, 2011 at 5:35pm

      I didn’t see it, was it an actual picture of him or a cartoon? If actual – what’s the problem. Or did it hurt your sensitivities about your IDOL.

      Report Post » Eblaze44  
    • Shasta
      Posted on November 9, 2011 at 5:37pm

      Great picture. You Paulies need to learn to laugh at yourselves. Ron is an honest man, but I could never vote for him.

      Report Post » Shasta  
    • martinez012577
      Posted on November 9, 2011 at 5:49pm

      So none of you think that was done in a malicous way? Come on, wake up. When the blaze puts a bad picture of Cain, Romney or Perry then I might agree. That picture was done to show Dr. Paul in a negative way.

      Report Post » martinez012577  
    • Susan Harkins
      Posted on November 9, 2011 at 5:51pm

      @Shasta

      We dont blame you.

      Its a stastical fact that most people are slow to come around to major social/economic upheavals. Its too painful for them — call it ‘normalcy bias’. 10 years of depressionary hell will bring you about. You will beg for someone like him at that time.

      Report Post » Susan Harkins  
    • Shasta
      Posted on November 9, 2011 at 6:19pm

      Thanks Susan for not blaming me and for the free therapy and helping to show me why I am so foolish. I did not know I was suffering from normalcy bias. Sounds serious. Really though, I am extremely concerned about our current financial situation and my head is not buried in the sand. I am however completely convinced that Mr. Paul is NOT the answer. I actually agree Mr. Paul’s economic policies. My problem with your hero is his foreign affairs policies. Being a separatist country might have worked 100 years ago, but not now. It would be of little good to have a thriving economy if we could not protect ourselves in a very dangerous world. Ron Paul is just too dangerous to be president.

      Report Post » Shasta  
  • johnnyrockett
    Posted on November 9, 2011 at 5:06pm

    Uhg

    Report Post »  
  • Unix
    Posted on November 9, 2011 at 5:04pm

    Time is ticking people, I‘ve been warning you since the Blaze’s inception to PREPARE! I sure hope you all are ready for HELL on EARTH!

    God Bless you all, but I’ll say this, He is not a happy camper right now!

    Report Post » Unix  
  • Centralsville
    Posted on November 9, 2011 at 5:01pm

    The failure of worldwide socialism. We embrace European Socialism as it is failing over there. Soon to fail here to. Our total national debt, 600,000 dollars per family. You don’t pay that back people.

    Report Post »  
    • CatB
      Posted on November 9, 2011 at 5:23pm

      Actually that figure is off now .. a little known fact .. we backstopped a whole lot of banks the other week INCLUDING FOREIGN! .. to the tune of over 150 Trillion .. yes with a T .. we each owe over 2 MILLION now …

      Report Post »  
    • Shasta
      Posted on November 9, 2011 at 5:43pm

      Obama and his socialist buddies see something they like in the failing Europe and are quite determined to beat them to the bottom.

      Report Post » Shasta  
  • Susan Harkins
    Posted on November 9, 2011 at 4:59pm

    400 pt crush!

    Nothing to see here folks, Just move along. Its only a temporary action to an inevitable realignment of an Italian Debt/GDP figures — nothing that the IMF cant handle with a new-fangled 12:1 debt-leveraging vehicle that can be backstopped by 100% Euro Pensions.

    Just BAU — now go back to work, so that you can keep funding those pensions.

    Report Post » Susan Harkins  
    • pointman
      Posted on November 9, 2011 at 5:19pm

      Yep, and I don’t think it will be long before our “Fed” steps in to save us from this and sends a few trillion over to the Eurozone to “bail them out”. In affect de-valuing our dollar and increasing the price of goods and sevices on the Americans to bail Europe out.

      Report Post »  
  • Yeah_Buddy
    Posted on November 9, 2011 at 4:57pm

    I love this global economy thing and my 401k being negatviely impacted by lazy, european dooshbags I have no influence over.

    Report Post »  
    • commonsenseguy
      Posted on November 9, 2011 at 5:11pm

      not just Europeans douche bags,we have a crap load of them here just look at the protestors,

      Report Post »  
    • Shasta
      Posted on November 9, 2011 at 6:03pm

      You are so right CommonSense. But one of the OWS people has the answer. She said we all should have the right to print our own money. Problem solved. Oh but wait. Some people would put more effort into printing money than others, and that would not be fair. Soon, those with a good work ethic would print so much more than tazy filth bags would, that we would have another evil 1% to protest. Sigh.

      Report Post » Shasta  
    • Therightsofbilly
      Posted on November 9, 2011 at 7:16pm

      @SHASTA

      Great response !! And True !!

      On a side note, there is one of those lazy filth bags trolling around here lately using a slightly misspelled version of my name, along with an exact duplicate of my Groucho face.

      So if he offends any of you right thinking, GOD believing people like myself, blame it on the OWSERS.

      JZS, did you hack my account?

      Report Post » Therightsofbilly  
  • garyM
    Posted on November 9, 2011 at 4:57pm

    I don’t have a 401k and I have never purchased a share of stock in my life, rise or fall of the stock market doesn’t mean much to me. I suppose if everyone else loses their butt, it could have an effect on all of us though! The stock market seems to me to be the biggest Ponsi Scheme of all!

    Report Post »  
  • Snowleopard {gallery of cat folks}
    Posted on November 9, 2011 at 4:57pm

    Wait until the collapse of the EU or China comes about.

    Report Post » Snowleopard {gallery of cat folks}  
  • soapbox55
    Posted on November 9, 2011 at 4:54pm

    I’m sure glad all my money is in…
    Oh wait, I don’t have any.
    Gotta go to work now–won’t be making it to the rally

    Report Post »  
  • taxpro4u03
    Posted on November 9, 2011 at 4:51pm

    Duh! — Chief of IMF was in China today trying to gin up some support from them to come off with some of their $3.2 TRILLION to dump into the European Financial Stability Facility designed to ‘prop up’ the EU bloc’s failing economies. Go figger :-) Jump in the waters’ FINE.’

    Report Post »  
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