Dow Jones experiences largest drop since 9/11

TexasStooge · #41 Postby **TexasStooge** » Tue Feb 27, 2007 4:22 pm

Here's to another 1,000 to Dow Jones!

#42 Postby **Aslkahuna** » Tue Feb 27, 2007 4:35 pm

Brokers have been warning of a correction for some time-this may be it. US housing market slump (which is usually a first indicator of a recession) and other indications of a slowdown plus Greenspan's statement yesterday (although not Fed Chairman anymore he's still listened to) are also factors.

Steve

gtalum · #43 Postby **gtalum** » Tue Feb 27, 2007 4:39 pm

The reduction in durable goods sales in January probably didn't help either.

I'm still going bargain hunting in the stock market tomorrow.

Stratosphere747 · #44 Postby **Stratosphere747** » Tue Feb 27, 2007 4:41 pm

Housing market is about to take a huge hit - The ARM aspect will see to that.

conestogo_flood · #45 Postby **conestogo_flood** » Tue Feb 27, 2007 4:42 pm

What could this mean for Canada if it becomes worse?

Stratosphere747 · #46 Postby **Stratosphere747** » Tue Feb 27, 2007 4:44 pm

gtalum wrote:The reduction in durable goods sales in January probably didn't help either.

I'm still going bargain hunting in the stock market tomorrow.

This correction could linger a bit longer.....

Nimbus · #47 Postby **Nimbus** » Tue Feb 27, 2007 7:02 pm

The Japanese Nikkei opened down 289 points tonight so the global selling continues. Looks like a double top in the Dow.

edit
Nikkei now down 528 points.

artist · #48 Postby **artist** » Tue Feb 27, 2007 7:17 pm

or is it just getting to Japan? Did they have a big sell off yesterday?

Regit · #49 Postby **Regit** » Tue Feb 27, 2007 7:40 pm

artist wrote:or is it just getting to Japan? Did they have a big sell off yesterday?

The Nikkei was down by a small percentage yesterday.

Nimbus · #50 Postby **Nimbus** » Tue Feb 27, 2007 8:31 pm

Singapore market is down over 5% tonight and the Australian All Ordinaries is down about 2.35% so far.

Stratosphere747 · #51 Postby **Stratosphere747** » Tue Feb 27, 2007 9:03 pm

The global markets response was expected....

Nothing surprising.

Nimbus · #52 Postby **Nimbus** » Tue Feb 27, 2007 9:49 pm

The Shanghai A shares $SSEA-IDX (IDX) which were down 8.8% yesterday started this whole domino effect. Shanghai opened down again tonight but the quote looks suspicious. Quote.com is not reporting volume statistics?

http://new.quote.com/stocks/quote.action?s=%24SSEA-IDX

MiamiensisWx · #53 Postby **MiamiensisWx** » Tue Feb 27, 2007 10:15 pm

On a side note I've updated the thread title to reflect the current situation.

TexasStooge · #54 Postby **TexasStooge** » Wed Feb 28, 2007 8:09 am

Hopefully it's not gonna be as bad as it was yesterday.

gtalum · #55 Postby **gtalum** » Wed Feb 28, 2007 8:37 am

The title is incorrect. it's not the worst low since 9/11. It's the worst point total drop since then. It's not even near the top ten percentage drops, though.

Today the futures are all up, so a large gain is expected. Shop for some stock deals this morning.

azsnowman · #56 Postby **azsnowman** » Wed Feb 28, 2007 10:21 am

I know....I had to take a SERIOUS drink or two last night!!! My portfolio had 2 major BLOWOUTS on the steering wheels!!! Let's hope today is BETTER....I can't DRINK that much anymore!

conestogo_flood · #57 Postby **conestogo_flood** » Wed Feb 28, 2007 11:08 am

Hey, I didn't even know what it meant until my 16 year old neighbour called all panicked.

What is the current situation this, I don't understand what all this means. My father didn't seem to concerned about his RIM stock.

Website · #58 Postby **Brent** » Wed Feb 28, 2007 12:13 pm

It seems to have just been a one-day thing. It is a up a bit today.

These kind of drops have happened before. No need to worry unless it were to continue(which there are no signs it will). It has been going up so much lately that it was only a matter of time before it had a bad day, and 3% isn't really that significant. Black Monday in 1987 was a drop of 508 points(only a little worse than yesterday) was a whopping 22%!

MiamiensisWx · #59 Postby **MiamiensisWx** » Wed Feb 28, 2007 12:39 pm

gtalum wrote:The title is incorrect. it's not the worst low since 9/11. It's the worst point total drop since then. It's not even near the top ten percentage drops, though.

Today the futures are all up, so a large gain is expected. Shop for some stock deals this morning.

Thanks for the clarification. I altered the thread title now.

Regit · #60 Postby **Regit** » Thu Mar 01, 2007 9:39 am

Another day for buying setting up? Stocks tumbled 200 at the open but are now recovering.

I'll give it until after noon to decide if I want to buy. 8-)

Dow Jones experiences largest drop since 9/11

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