US Stocks Tumble On Oil Rates

[chlamor]

US stocks tumble on oil, rates
From correspondents in New York
22mar05

US stocks fell sharply overnight as a flurry of deals failed to calm investors who continued to focus on rising crude oil prices ahead of the upcoming US Federal Reserve decision on interest rates.

The Dow Jones Industrial Average slumped 70.27 points (0.66 per cent) to 10,559.40, while the Nasdaq composite dropped 6.55 points (0.33 per cent) to 2001.24 at 1700 GMT.

Crude oil was hovering around $US57 a barrel on the New York Mercantile Exchange, taking the focus away from merger news, including the deal for InterActiveCorp to buy Ask Jeeves for $US1.85 billion.

"The mergers are not market movers; what's really the focus of investors is the price of oil," said Hugh Johnson, chief investment officer at First Albany. "As long as the price of oil stays near $US57 a barrel, investors are very, very nervous."

http://www.thecouriermail.news.com.au/common/story_page/0,5936,12622745%255E1702,00.html

[Career Prole]

1. Tumble?

They ain't seen nothin' yet.
The SS private account hucksters are no doubt hoping their audiences aren't noticing the way the market reacts sharply to outside influences (even negative reporting) these days.
Investors are nervous and it shows, no matter how many analysts say otherwise.

[nadinbrzezinski]

2. Cool and this is JUST THE BEGGINING

[Deja Q]

11. Well, the oil barons and big corporations want us jobless and dead.

I dunno. There's nothing cool about this sort of loss of life. (murder by proxy)

When the economy crashes, they'll have 0 as well. It'll all be worthless. That's the only cool thing about it. And there's nothing cool about pain and suffering.

[ozone_man]

13. Getting used to the new trend

The next two years ought to be quite a wild ride down.

[daleo]

3. Meanwhile, the entire gov't is focused on a woman with PVS.

It almost seems like the U.S. government is headed for a persistent vegetative state, along with the stock market.

[chlamor]

5. I like that-Post that in GD Forum

US Government in persistent vegetative state. That's good.

[raccoon]

18. And lots of US citizens

in persistent vegetative states, too. Caused by watching too
much FOX, CNN, C-span, ABC, NBC, CBS--did I leave any out?--and listening to morons like Limbaugh.

[ChiciB1]

4. Tell Me... I've Been Wondering

and I mean it too. I've been wondering if I should take my money out of my IRA and hide it under the mattress.

Everyday I check my balance, well I get a real "sinking" feeling!

Just had to post... hit 700, now onto 800, 900 and the ultimate 1000!

But I really mean it! This economy doesn't look so good from where I'm sitting.

[Tandalayo_Scheisskopf]

6. That's because, when you look closely at it...

It isn't.

[ChiciB1]

8. Oh Yeah, I Forgot

It's a fine mess, Ollie!

[Lorien]

7. I sold all my stock last year

and used it to pay off debts. I say sell and put it into euros or gold-that's what many around here are advising.

[ChiciB1]

10. I AM Really Worried!!

After 9/11 before THIS novice caught on, we lost around $140,000.00. After having saved and saved through our 401K we took a lump sum and stuck it with Morgan Stanley. After this MAJOR leakage, I finally called the broker and he put it in a Money Market account to stop the free fall.

But we are still about $100,000.00 short of that loss to this day!! And we ain't nothin close to rich. That's our savings, and that's all she wrote!!

Fortunately my husband finally qualified for SS and we took the early retirement route. He worked for a utility company and it was only because of the UNION that we were able to put some away. Losing that much can cause cardiac arrest, and I don't want to lose the rest.

I have been watching the Euros, but with this administration there's no telling what kind of crap they'll lay on the rest of the WORLD! Cause they don't care what they do or who they hurt!! When you start calling French Fries, Freedom Fries, honey we got PROBLEMS!!!

I know, I know... they retracted, but it surely was "tongue in cheek"!

[DoBotherMe]

9. I did.

Took it out, paid the penalties, and bought w/cash a fixer upper to live in. And put the rest in CDs for now. D ; )

[ChiciB1]

12. An Accountant Said To Do The

CD thing. Better return for now. Oh what to do?? Because there ARE penalties even if you don't have to pay the 10%... you still have to pay to opt out!

[DoBotherMe]

14. Susie Orman said that owning a primary

residence is the BEST return of any investment vehicle. What I'm not paying in mortgage payments I'm saving to upgrade my home's energy efficiencies (such as solar water heating, insulation, windows, and a wood burning stove) to further reduce my monthly living expenses. D ; )

[grasswire]

15. uhh Suze?

What happens when the housing market goes bust? (As it will.) Equity and the cost of improvements could be lost. And living in a paid for house worth $100,000 that cost you $200,000 doesn't exactly qualify as the "best investment."

[DoBotherMe]

17. Thanks for correcting my spelling ....

Dana ; )

[chlamor]

16. Land

Back to the basics. All financial advisers no matter their intent or expertise operate in the realm of perverse abstraction.

Land-Water-Garden-Simplicity