Surge in Jobless Claims and global economic worries sends Stocks in free-fall

oreo

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Sep 15, 2008
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Wall Street drowned in another sea of worries and U.S. markets suffered their steepest losses in more than a year on Thursday, a reflection of how concerns about Europe’s debt crisis have snowballed into fears about the sustainability of the global economic recovery.

Today’s Markets

The Dow Jones Industrial Average fell 376.36 points, or 3.60%, to 10068.01 the Standard & Poor's 500 lost 43.46 points, or 3.90%, to 1071.59 and the Nasdaq Composite dropped 94.36 points, or 4.11%, to 2204.01. The FOX 50 slid 30.71 points, or 3.75%, to 789.03.

New signs of trouble for the U.S. recovery, including an alarming surge in jobless claims, combined with persistent worries about Europe's debt crisis to deliver another blow to Wall Street. The markets were also spooked by the S&P 500 breaching a key technical level and regulatory uncertainty in both Washington and Europe. The results were staggering as the Dow officially closed in "correction" mode and all three indexes ended in the red for the year.

“Let’s be frank, the headwinds from every conceivable corner of the globe seem to be driving fear into even the most opportunistic of long side investors,” Peter Kenny, managing director at Knight Capital Markets, wrote in a note.

Economic Fears Grip Wall Street; Dow Dives 376 - FOXBusiness.com

OK--Rightwinger--why don't you step in here and tell us how GOOD this news is

Today's date is 5/20/2010


Again--PROOF that massive government spending DOES NOT CREATE long term private sector job growth. Obama's flood the basement economics has only created MASSIVE debt.

Each household in America now owes the Federal Government 100K which is expected to rise to 170K by 2020.

$lipstuck-pig-sb0206d.jpg
 
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Ask any Democrat ...No problem... It's working.. Hell, best ever...
 
Ask any Democrat ...No problem... It's working.. Hell, best ever...



I am still waiting for Right Winger and other liberals on this board explanation of this--because they have REPEATEDLY hailed the stock market rise as a precourser to all these suppoused new jobs coming into the market.

Where could all these little economic Einsteins be now?
 
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Ask any Democrat ...No problem... It's working.. Hell, best ever...



I am still waiting for Right Winger and other liberals on this board explanation of this--because they have REPEATEDLY hailed the stock market rise as a precourser to all these suppoused new jobs coming into the market. Stating that JOBS are a lagging indicator :lol::lol:

Where could all these little economic Einsteins be now?

This could be interesting.. just how long can you hold your breath..?
 
How do you expect the market to respond tomorrow since the Senate passed this new wall street regulation bill?
 
Don't worry people, Obama is in charge. Everything is going according to "the plan".
 

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