Dow Jones experiences largest drop since 9/11

[Lindaloo]

I did not make it up. That is how I took your post. So please quit being so confrontational.

[Brent]

Down 291 points today and continuing to drop(watching it on CNBC it gets worse every time it updates). Worst single day loss since May 19, 2003 and it has given up it's monthly and yearly gains.

Edit: OMG! It just jumped to 475 and now in 5 minutes it's down 540! Worst day since the first day open after 9/11.

Watching the numbers drop is unbelievable.

It's a bit better now, back to about 490.

[Regit]

I'm getting sicker and sicker by the moment. Luckily, my biggest stock is outperforming the market. The rest are tumbling though. Not a single one is up.

[gtalum]

Tomorrow will be a good day to buy some stocks!

[Derek Ortt]

the drop was accelerated by the assination attempt on Cheney by our friends, the Taliban. CNN.com has some information

[Regit]

Tomorrow will be a good day to buy some stocks!

I'm actually thinking of putting a buy in before 4:00 today.

One of the stocks I've been looking to pick up announced great earnings today and is still down almost 2%.


It's still sickening to look in my portfolio and see nothing but red, even if it is only one day.

[Brent]

It's come back a bit now, now down about 355. Still a huge selloff though. Bet it goes up bigtime tomorrow.

It's wild watching the board on TV.

[Yarrah]

Shows how important China is in the world economy. Just a rumour that the Chinese goverment wants to combat investors who use loans to buy stocks has a global effect.

[Brent]

Back down about 415, half-hour til closing. Worst month since January 2003, has erased all of the gains this year.

[Regit]

Back down about 415, half-hour til closing. Worst month since January 2003, has erased all of the gains this year.

Well, if it goes down 500 today, I wouldn't at all be surprised to see it up 350 tomorrow unless some really horrible news comes overnight.

[gtalum]

Back down about 415, half-hour til closing. Worst month since January 2003, has erased all of the gains this year.

A big chunk of it will come back tomorrow as folks like me swoop in to pick up some good deals from the morons who were silly and sold off today.

[fwbbreeze]

Shows how important China is in the world economy. Just a rumour that the Chinese goverment wants to combat investors who use loans to buy stocks has a global effect.

China is a large economic influence, but in my opinion this is an over reaction. Look at some of the economic data released today for the US and its plain to see this sell off is exaggerated.

Existing home sales jump
http://biz.yahoo.com/ap/070227/economy.html?.v=16

Consumer confidence gains
http://biz.yahoo.com/ap/070227/economy.html?.v=16

I agree with gtalum and Brent, tomorrow should be a good day!

[Yarrah]

China is a large economic influence, but in my opinion this is an over reaction. Look at some of the economic data released today for the US and its plain to see this sell off is exaggerated.

I agree, I don't understand why the stock exchange over here has decreased that much today when the ecomomy's doing great and positive ecomic data is released almost every month and it seems the US is in the same situation

[Lindaloo]

The last major selloff like this was right before Sept. 11th.

[gtalum]

The last major selloff like this was right before Sept. 11th.

Actually it was right after. The first day back the DJIA dropped almost 700 points.

Edit: there was also another big selloff in January 2003.

[Stratosphere747]

It was a matter of time before a significant loss in one day occurred. There has not been enough healthy drops to substantiate the gains seen. With that said - The economy is not quite as rosy as portrayed. Biggest issue that I am having is the escalation of personal debt and the impending rise in foreclosures.

[Lindaloo]

The last major selloff like this was right before Sept. 11th.

Actually it was right after. The first day back the DJIA dropped almost 700 points.

Edit: there was also another big selloff in January 2003.

Yep, you are right. After Sept. 11th is when there was a drop to 7.1%.

[Brent]

Final for the day:
Down 415.30 to 12,216.96

[JonathanBelles]

when does the stock market open and close?

[fwbbreeze]

when does the stock market open and close?

NYSE is open from 9:30AM-4:00PM EST