Dow in 350-point tumble

[dragonrider]

NEW YORK (CNNMoney.com) -- The Dow plummeted more than 350 points Thursday as selling accelerated following a record surge in oil prices. The three major indexes took a beating right out of the gate after Goldman Sachs downgraded two key Dow components, and two tech leaders disappointed investors.

The Dow Jones industrial average (INDU) shed 358.41 points, or 3%, to close at 11,453.42. The last time the index was near that level was 21 months ago in September 2006.

The Dow lost more points Thursday than any other day this year except for Feb. 5, when the indicator lost 370.03 points.

Despite the major selloff, however, the market is not yet in "bear" market territory. A bear market is defined as a drop of at least 20% off the recent high. The Dow closed at 14,164.53 on Oct. 9, and ended Thursday down 19.1% from that peak.

Here's the full article:

CNNMoney.com Market Report - Jun. 26, 2008

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Gawd. No wonder I'll never be able to retire. So far we are not in a bear market because we are only 19.1% off the peak, not quite 20% --- maybe tomorow.

I have this crazy theory that on the day Bush leaves office, somehow the Dow Jones Industrial average we will be at the EXACT same value as it was on the day he was sworn in. it will be as though those 8 years never exisited for the stock market. It will be one of those wierd surealistic conicidences of the Bush years that makes you just wonder if it is all a nightmare. I need to look up waht the Dow was at on that day--- I know it was very close to 10,000, so at 11,453.42, we aren't really that far off from completely flat performance given that it has been nearly 8 years. A 14% rise in 8 years is amazingly pathetic. Usually the Dow averages at least 7% a year, so you might expect us to be closer to 17,000 right now.

You can't blame it all on Bush, of course, but somehow I think as soon as he leaves office we sill see the markets take off.

dragonrider Reviewed by dragonrider on 06-27-2008. Dow in 350-point tumble NEW YORK (CNNMoney.com) -- The Dow plummeted more than 350 points Thursday as selling accelerated following a record surge in oil prices. The three major indexes took a beating right out of the gate after Goldman Sachs downgraded two key Dow components, and two tech leaders disappointed investors. The Dow Jones industrial average (INDU) shed 358.41 points, or 3%, to close at 11,453.42. The last time the index was near that level was 21 months ago in September 2006. The Dow lost more Rating: 5

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if that doesn't work then I don't know what to do because it works in the preview..

YouTube - Marc Faber: 'Misleading' Fed Should Let Banks Fail- P1

YouTube - Marc Faber: 'Misleading' Fed Should Let Banks Fail- P2

[killerweed420]

I cashed in all my investments in 2000 before bush was inaugarated. Repubs are always bad for the economy.
I personally hope the stocks just crash and all the big investment houses and banks fail. The greed needs to come to an end some day.

[dragonrider]

It's official. We dipped into "bear" market territory today.

[Dutch Pimp]

Man and Mother Nature seem to lining up for the "Perfect Storm". Drought in the South, floods in the Midwest, wildfires...etc.

Soon...no oil...no food.

My 401k fund has turned into a burial fund...:wtf:

[dragonrider]

Man and Mother Nature seem to lining up for the "Perfect Storm". Drought in the South, floods in the Midwest, wildfires...etc.

Soon...no oil...no food.

My 401k fund has turned into a burial fund...:wtf:

I was counting on my investments to see me comfortably through these End Times that are upon us. I always thought that if I was reduced to eating rats and bugs to survive, I wanted to at least be able to afford the very best rats and bugs. But now ... who knows how I'll get through the apocalypse in style?

[killerweed420]

Dems will be elected so its a good time to find some good investments. Something USA not foreign. Or just invest in a cash crop:jointsmile:

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