The Economy/Wall Street

[TWCToday]

Dow is currently down 487, under 10,000.

THREE minutes later, Down down 564.

Just goes to show you how fast things can change and how unstable this market is

[lfmusiclover]

Dow is currently down 487, under 10,000.

THREE minutes later, Down down 564.

Any word as to what's causing this plunge?

[tpirfan28]

Dow is currently down 487, under 10,000.

THREE minutes later, Down down 564.

Any word as to what's causing this plunge?

"Global slowdown" is the new keyphrase.  But I have no freaking clue.

[lfmusiclover]

Dow is currently down 487, under 10,000.

THREE minutes later, Down down 564.

Any word as to what's causing this plunge?

"Global slowdown" is the new keyphrase.  But I have no freaking clue.

I see. Stocks are plunging because people are fearing a global economic crash. Economies across the globe have faltered over the past few days.

[TWCToday]

Despite...
Fed pumps billions more into banks
Central bank doubles to $300 billion the amount it will loan banks. Loans could reach $900 billion by end of year.
http://money.cnn.com/2008/10/06/news/economy/fed_loans/?postversion=2008100609

[tpirfan28]

Dow hit -705.  Market needs to stay closed on Mondays.

EDIT:  Touched -760.

EDIT:  Just ticked -800.

[lfmusiclover]

Good grief! That would be a new record! 

[TWCToday]

Good grief! That would be a new record! 

No it recovered quite a bit

-317

[lfmusiclover]

Good grief! That would be a new record! 

No it recovered quite a bit

-317

Hence the past tense. 

[TWCToday]

Good grief! That would be a new record! 

No it recovered quite a bit

-317

Oops! Sorry wasn't paying attention.  It is quite amazing how the market is seeing these huge changes in just hours 

Hence the past tense. 

[tpirfan28]

Dow will settle down about down 680.

If this isn't a crash, I'd love to know what is.

[lfmusiclover]

I think this qualifies as a crash. The Dow hasn't gained in almost a week! And its losses have been stunning every day. 

[tpirfan28]

Six minutes in, Dow is down 530.

....and they just busted through the 8000s.  It was over 10,000 on freaking MONDAY.

....two minutes later, down 620.  Briefly hit down 700.

....two minutes later, down 345.  *sigh*

[lfmusiclover]

Wow, simply unbelievable. 

[TWCToday]

8th straight day in a row the market as gone down. I think/hope we are nearing the bottom.