Dow plummets 200 points within 5 minutes of opening bell as Wall St. reacts to S&P downgrade

[Dad Infinitum]

The Dow plunged more than 200 points within five minutes of the opening bell as Wall Street grappled with the first-ever downgrade of U.S. debt by Standard & Poor's.

The ratings agency stripped the U.S. of its top-notch rating after Friday's close, leaving investors to ponder its impact on an already fragile economy.

Following declines in Asian and European markets, the Dow Jones industrial average fell 221 points, or 2%, to 11,223. The S&P 500 dropped 25 points, or 2% to 1,174.

Read more: http://www.nydailynews.com/news/national/2011/08/08/2011-08-08_dow_plummets_200_points_within_5_minutes_of_opening_bell_as_wall_st_reacts_to_sp.html#ixzz1URsprFOo

[Javaman]

1. -336 at last check. nt

[gkhouston]

2. Not surprising. Here's hoping the market claws its way back up

as the week goes by.

[GodlessBiker]

3. Time to buy!

[earthside]

4. The 'Plunge Protection Team' ....

... is undoubtedly gearing-up to prop-up the DOW.

I wouldn't be surprised that the DOW ends today barely down or even in positive territory.

The stock market in this eleventh year of the 21st century is a casino and pretty much a fraud ... it is about gambling to make money irrespective of real company values or productivity.

On the other hand ... if the dark forces of the elite insiders want to provoke the final implementation of the 'shock doctrine' then maybe the market will end down a couple of thousand points this week.

Hmmmm.

[bemildred]

5. Yippee!!!