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  Topic: Dow Suffers Worst Drop
of the Year
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Dow Suffers Worst Drop
of the Year

ABC News, by Zunaira Zaki

Original Article

Posted By:JoniTx, 11/7/2012 8:22:44 PM

The Dow Jones Industrial Average had the biggest point drop since November 2011. The Dow closed at 12,932.73, down 312.95 points, or 2.4 percent. The S&P 500 also dropped 2.4 percent to 1,394.54 while the Nasdaq Composite fell 2.5 percent to 2,937.29. Stocks opened lower Wednesday morning with investors concerned about the looming fiscal cliff and the European economy. Protests against Greek austerity measures persisted for the second day in Athens with Prime Minister Antonis Samaras asking parliament to vote on spending cuts and tax increases.

      


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Reply 1 - Posted by: crimea river, 11/7/2012 8:26:08 PM     (No. 8998180)

People with skin in the game have spoken.


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Reply 2 - Posted by: Safari Man, 11/7/2012 8:30:03 PM     (No. 8998185)

Revenge against the "1% ers". If you own stock or have any retirement money saved up, the revenge is going to be on you.


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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: august9, 11/7/2012 8:38:22 PM     (No. 8998197)

Gee.....all of a sudden Greece is back in the news---funny how that happens!

Speaking of Greece----why would Greece's financial dilemma be of concern to us here in the U.S.A when we just voted to continue down the same path that got them into their quagmire?

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Reply 4 - Posted by: Bobn.T, 11/7/2012 8:42:23 PM     (No. 8998206)

And more of the same is to follow.

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Reply 5 - Posted by: Mike PHX, 11/7/2012 8:43:16 PM     (No. 8998210)

Most of my investments are in index funds, including Double Dow and Double Nasdaq. I threw some more money into them recently, thinking of a bonanza after a Romney win.
This morning I was unable to feed my cats their usual tin of Meow Mix.
It was actually delicious. A little soy sauce, some pepper...yummy.

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Reply 6 - Posted by: schnapps, 11/7/2012 8:57:55 PM     (No. 8998239)

ABC news radio was blaming the stock market drop on the fiscal cliff they just discovered.
Oh, yeah and they just notice the riots in Greece, too.


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Reply 7 - Posted by: Donna M, 11/7/2012 9:28:55 PM     (No. 8998283)

Fiscal cliff time. For all their caving in to Obamacare and trying to get on the health exchange gravy train, healthcare payer stocks are way off: Humana (Medicare Advantage) off 6%, UnitedHealth off 2%, Aetna down 1.8%, WellPoint (Blues Empire and Anthem) off 5%. CEO of Aetna's already talking employee freeze/layoff:
http://www.bloomberg.com/news/2012-11-07/ceos-ask-obama-to-fix-deficit-while-bridging-chasm-in-congress.html?cmpid=yhoo

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Reply 8 - Posted by: bpl40, 11/7/2012 9:36:20 PM     (No. 8998294)

What the hell did you expect you 0bama voting morons?

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Reply 9 - Posted by: Ecclesiastes, 11/7/2012 9:55:46 PM     (No. 8998334)

The market has been over inflated for years. Call me when it goes to 7,000.


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Reply 10 - Posted by: stablemoney, 11/7/2012 9:56:55 PM     (No. 8998338)

I thought the one day drop after the election was investor concerns because Obama won. Fiscal cliff? Greece? The stock market has know about that for months.

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Reply 11 - Posted by: Rumblehog, 11/7/2012 10:16:41 PM     (No. 8998389)

The libertard professors in California don't have a clue that this is NOT good for their bountiful CALPERS retirements. CALPERS is hugely dependent on the health of the US market and pension plans are being wiped out with losses like this.

Speaking of which, Gov. Moonbeam really thinks he can get the Feds to bail out their bloated bureaucratic entitlement gravy train, but that would add another trillion to the national debt for just one year. Socialism is entirely screwed. If we do what third world nations do, and that's induce inflation and deflate our currency, the Chinese will go to war against us. Great situation FDR socialism has brought us to, huh?

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Reply 12 - Posted by: reddfroge, 11/7/2012 10:19:29 PM     (No. 8998396)

AARP can go to 'H++l'
They sold out all of their members
to make a buck on Obamacare.
It WILL bite them in the end.

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B-G1


 
Reply 13 - Posted by: billa, 11/7/2012 10:23:25 PM     (No. 8998398)

Embrace the continuation of the Depression. No one with brains and capital is going to invest into any thing of substance for the next four years.

Meanwhile, the OWS unemployment brain dead crowd, the muslim/arab lunatics, militant blacks and entitlement crowd (over 50%) now have free reign to wage war and havoc on those who have jobs, own property and employ people. Wake me up in 2016, oh wait...the same idiots will elect Hillary and then we will have eight more years of Clinton.

Worse, no one will attempt to impeach O for Benghazi because of the race card, our current stock of Republican leaders are spineless and no one on the planet wants Biden to be the Pres., hence O's selection of the mentally challenged clown.

Hey, Wall Street and unions, welcome to your new he!! With impending Ocare...thousands of businesses will close or move over seas.

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Reply 14 - Posted by: reddfroge, 11/7/2012 10:34:49 PM     (No. 8998426)

thanks Obama voters...America is finished.

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Reply 15 - Posted by: Phil_hk, 11/8/2012 12:40:36 AM     (No. 8998542)

#5 you should eat the cats

You could trade the cans of food for gasoline

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Reply 16 - Posted by: steveW, 11/8/2012 1:15:34 AM     (No. 8998564)

Soon to be trending: going Galt.

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Reply 17 - Posted by: janylou, 11/8/2012 1:21:56 AM     (No. 8998574)

The problem, #13, is they are pulling all of us down with them. So while I'd love to see them get their just desserts, I don't want to be sharing their misery.

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R_DBL_B
  


 
Reply 18 - Posted by: Trigger2, 11/8/2012 4:14:10 AM     (No. 8998637)

To #11: Those libtards in CA no longer care about CALPER investments in bonds or stocks because the over 50% of takers in CA voted to have the producer taxes increased so those 'bountiful' funds can be thrown into pension funds. The only problem is that 'bountiful' funds are never realized. I predict the deficit next year will be $20 billion and counting.

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Reply 19 - Posted by: Phil_hk, 11/8/2012 4:28:20 AM     (No. 8998643)

How long before the IRS confiscates IRA's and 401K's?


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Reply 20 - Posted by: Really?, 11/8/2012 6:30:12 AM     (No. 8998713)

Seriously.....has ANY "news" outlet mentioned that this MIGHT be due to the election ? I have yet to see one. They ALL are quick to claim that it's the new focus on the "fiscal cliff".

I feel like I am listening to Benghazi reports all over again.

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