Global economic crisis

[HURAKAN]

Biggest FTSE Fall For 20 Years

The FTSE 100 index of leading UK shares has suffered its biggest one-day fall since the 1987 crash amid the deepening global financial crisis.

At one stage, the FTSE dropped nearly 9%.

It closed down 391.1 points, or 7.85%, at 4589.2, wiping more than £93bn off the value of top firms.

Germany's DAX was down 7.1% and France's CAC-40 closed 9% lower.

The gloom was not just felt in Europe, as markets were also hit badly in the US and Asia.

The Dow Jones industrial average of leading US stocks fell below the 10,000 mark for the first time in four years.

The sharp drop came amid growing fears that the global financial crisis may be deeper than first thought.

The Dow Jones fell around 4% in early trading.

Entire Article: http://news.sky.com/skynews/Home/Busine ... wn_Sharply

[Brent]

DOW
9708.11
-617.27
-5.98%
NASDAQ
1810.44
-136.95
-7.03%
S&P 500
1028.19
-71.04
-6.46%



Has to fall 1,200 to suspend trading.

Down 722 now! May top last Monday's drop of 777.

[Brent]

DOW
9540.53
-784.85
-7.6%
NASDAQ
1778.71
-168.68
-8.66%
S&P 500
1008.77
-90.46
-8.23%


Briefly -800

[Extremeweatherguy]

Dow now down over 750 points!

My stocks are taking a serious beating.

[george_r_1961]

Dow now down over 750 points!

My stocks are taking a serious beating.

Ditto here and im afraid to look at my 401k.

[Category 5]

Wow, the bailout did alot of good.

[george_r_1961]

Wow, the bailout did alot of good.

It will do a lot of good eventually, just not for the average Joe.

Someone correct me if im wrong but isnt this money being used to purchase mortgages that people defaulted on?

[lurkey]

-617.58 as of 3:14 (20 minute delay)

Cat5, this is in reaction to the failure of European banks and efforts of European gov't to prop them up. . . I think, Fortis, in Belguim last week was the first major bank . .. American banks and investment firms weren't the only ones involved in submortages and the shady mortgage security instrutments scam ..

Pakistan facing bankurptcy

[Brent]

DOW
9767.61
-557.77
-5.4%
NASDAQ
1827.51
-119.88
-6.16%
S&P 500
1033.85
-65.38
-5.95%

A little better(you know it's bad when you can say that and it's still down 550+)

[Dionne]

Wow, the bailout did alot of good.

It will do a lot of good eventually, just not for the average Joe.

Someone correct me if im wrong but isnt this money being used to purchase mortgages that people defaulted on?

I may be wrong, but it is my understanding there is no collateral involved. Even if the bailout was to receive the defaulted mortgages.....what good would that do? Most homes that become foreclosures usually have significant damage and require additional money for repair and resale. The days of purchasing foreclosures for resale and profit have disappeared. The two realtors I worked with flipped hundreds of these homes. We made a profit on ALL of them because it was so easy to get someone financed at 97% of an inflated value.

Now I'm sitting here wondering what my next profession will be? And I'm not alone.

[Brent]

Big rally? Only down -422 now.

[Extremeweatherguy]

What an amazing recovery! Now only down 296 points.

[Brent]

and above 10,000, wow.

[george_r_1961]

and above 10,000, wow.

Does this mean we are saved???

[Brent]

Closing bell, think it's finally settled.

DOW
9962.03
-363.35
-3.52%
NASDAQ
1862.96
-84.43
-4.34%
S&P 500
1057.68
-41.55
-3.78%

[Cyclenall]

Well at least it didn't stick at the -800 mark. Overall, I have doubts that the bailout will ever do anything other then make the sitution much worse.

[Dionne]

Yeah man the -800 mark makes you think about buying seeds for the garden. Interesting reversal today. Tomorrow is another day. I noticed someone appointed a 35 year old MBA to some important position in the "economic stability" package. Isn't it wonderful to watch history in the making and have absolutely no control over the outcome?

[Brent]

DOW
9518.39
-437.11
-4.39%
NASDAQ
1771.5
-91.46
-4.91%
S&P 500
1004.85
-52.04
-4.92%

Near the lows for the day. It started the morning up.

[Brent]

Closing bell and it's not pretty:

DOW
9449.66
-505.84
-5.08%
NASDAQ
1754.88
-108.08
-5.8%
S&P 500
996.39
-60.50
-5.72%

[therock1811]

Not at all pretty. That makes it down 869 points in 2 days alone. And just 2 days into the week