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The Dow has fallen 5.73%--and the Nasdaq is down over 6% as is the S&P 500--thanks to Federal Reserve Chairman Ben Bernanke's speech to the Economic Club of New York earlier today. While officials have repeatedly said that the bailout will take a while to work, Bernanke also gave a grim look at the future, "Our export sales, which have been a source of strength, very probably will slow." Still, "Americans can be confident that every resource is being brought to bear to address the current crisis.” CNBC also thinks that there's "an openness to further interest-rate cuts." Also affecting the Dow: The disappointing news about retail sales, producer prices, core PPI, etc...
Dow Falls 500 Points After Fed Chairman's Remarks
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It's the same media that NEVER mentioned Muslims' hatred of Israel as a possible motive for 9/11.
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where's ides and his "I hate to break this to you but the stock market is up!"? George Bush and the Republicans have done fucked up America. joe six-pack what are you gonna do come election time?
Your list is redundant. PPI = producer price index.
Joe Six-Pack is changing his name to Joe Tall-Boy because he can no longer afford to purchase six-packs.
More like Joe 40's.
What do all these economic whiz kids do for a day job?
Way to open your mouth Bernanke and ruin what was gained on Monday!
Keep talking. I want these stocks to go nice and low, so I can invest.
Great. More chances to buy assets at low prices.
More of the same news. It doesn't have to take a rocket scientist to know retail sales are going to be down so why wasn't the market scared about them on Monday?
They are dong this deliberately to drive the markets down (and consolidate power like they were doing a few weeks ago).
It's only going to get worse from here, by 2009 we will have staggering hyperinflation (like Weimar) and then Martial Law.
The Federal Reserve (a private central bank) is the culprit.
I say more like Joe Steel-Reserve.
99 cents at the local bodega yo!
looking at all these stocks the only one that looks promising is starbucks. should I buy? looks like the only one I can afford. Will it be the next coca cola or the next krispy kreme? ain't buying any stock over 40 bucks.
HJ, I would suggest splitting your chances and do both of them. $5.00 cups of coffee and sugary donuts are the future of this country.
I would also suggest buying a Hummer H2 because gas prices are dropping.
Horrible title and lead-in. His speech did not cause the Dow to drop 500 pts. You try to touch upon this in the last sentence, but it's a deliberate attempt at misdirection nonetheless. Poor journalism.
That'll do, and i don't want to see this thing come back up until broadway btw canal and houston looks like fucking DEE-TROIT. too many screwface titheads buying bullshit, i've come to believe that prada bags and Gucci sunglasses are just transmogrified pacifiers *suck**suck*-*suck**suck*
they did this last week. bernanke just needs to shut up.
he's not an oracle and his predictions are as good as anyone elses'.
The more bernanke and paulson talk the more the market tanks.
@#9 i think you may need a lesson in basic economics. as the price of oil has dropped and as the price of commodities has dropped, the threat of inflation is gone. in fact, the worry now is that we could be in for a period of deflation. economics 101. as demand drops, prices drop. there isn't the slightest inflationary threat.
#16 we are heading for an inflationary period, when so much funny money is being pumped into the economy what do you think happens? Inflation.
Give it until November, but we won't truly see the hyperinflation until 2009.
#16: right in the short term,
#17: right in the long term.
#18: looking for bargains in the options market. And pondering the lux feel and look of .999 pure gold.