Dow Drops 344 Points

The NY Times calls today's 344-point plunge in the Dow Jone industrial average "the index’s worst performance since June." Some of the possible reasons: The Labor Department announced more Americans were applying for unemployment; oil production is down (but the price of oil dropped $1.70); and slow retail sales. One investment strategist told Bloomberg Radio, "If you look at the data we have on the U.S. and global economy, things are only getting worse and that leads me to believe that demand is going to slow down and slow down pretty quickly." Related: NYC foreclosures were up 13% between July and August, to 383 foreclosures (254 in Queens also).

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By Jen Chung in News on September 4, 2008 4:54 PM

Comments [rss]

Bottomless Chips

...and the European Central bank continues to maintain their high interest rates "to fight inflation", even though their high interest rates are fueling inflation by depressing the Dollar and keeping oil prices high! Fuck Russia, lets nuke Brussels.

Is that really the root cause behind the US Dollar and, consequently, the price of oil in dollars?

NannyState

...and the European Central bank continues to maintain their high interest rates "to fight inflation", even though their high interest rates are fueling inflation by depressing the Dollar and keeping oil prices high! Fuck Russia, lets nuke Brussels.

Future Taliban

T-H-E U-S-A I-S F-L-A-T B-R-O-K-E

sinisterteashop

It's Sarah Palin's poll bounce.

blablanyc

There is always a sharp skid at the beginning of the college Fall semester. It may have to do something with tuition being due.

Shinobi Shaw

Invest in commodities!

mtauser

Wound up getting hit for low balance fees from TRowePrice cause the market did so bad. $10 per account. OWCH!

Never again will I play the market. I am putting everything in fixed.