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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-07-12 05:16 AM
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Wall Street marks first big loss of 2012
On Republican Presidential primary day?

Wall Street marks first big loss of 2012

By Angela Moon

NEW YORK | Tue Mar 6, 2012 6:05pm EST

(Reuters) - <snip>

Analysts have expected a pullback for weeks, citing an overstretched market. Despite the day's decline, the S&P 500 is still up almost 7 percent for the year. If fourth-quarter gains are included, the benchmark index is still up almost 20 percent since September 30.

Wall Street's anxiety gauge, the CBOE Volatility Index or VIX .VIX, jumped about 16 percent to near 21, rising above its 50-day moving average for the first time since November. About 10 stocks fell for every one that rose the New York Stock Exchange, with bank and miner shares among the top decliners.

<snip>

The Dow Jones industrial average .DJI slid 203.66 points, or 1.57 percent, to close at 12,759.15. The Standard & Poor's 500 Index .SPX dropped 20.97 points, or 1.54 percent, to 1,343.36. The Nasdaq Composite Index .IXIC fell 40.16 points, or 1.36 percent, to end at 2,910.32.

It was the Dow's first drop of more than 200 points since November 23. The last time the S&P 500 fell more than 1 percent was in late December.


http://www.reuters.com/article/2012/03/06/us-markets-st...



The writer attributed the drop to fears of a disorderly default in Greece and concerns that China's slowdown would hit global growth.

(Don't you wonder how they know what is in the mind of each trader?)

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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-07-12 04:42 PM
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1. Well...Market is back up today...but, us "Realists" here see what's going on around us
and worry about what's going on with our country. Whether the Stock Market is Goosed Up in an election year or some European Disaster brings it down.... We still know that our underlying Economy for most of us Average 99%'ers is not doing well.

They can pump and goose and do whatever...but, we see what we see and the future for awhile looks kind of bleak for we 99%. But, the 1% might end up doing very well because whichever way things go...they can Hedge their Money..and get tax breaks and offshore advantages as they rape and pillage the folks.
NO ONE has been held ACCOUNTABLE in all these years since the meltdown.(Forget Bernie Madoff..he wasn't into Mortgage Fraud he was just a PONZI Scheme) And, reports from financial sites say they are Doing It Again! Another Bailout in a year or two? Would the PEOPLE put up with it? :shrug:
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