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TheMercenary · 02-17-2009, 04:19 PM

Financial gloom was everywhere Tuesday.

On Wall Street, the Dow Jones industrial average came within sight of its lowest levels in more than a decade. Financial shares were battered. And rattled investors clamored to buy rainy-day investments like gold and Treasury debt. Markets from Hong Kong to Stockholm to London also staggered lower.

It was a global wave of selling spurred by rising worries about how banks, automakers - entire countries - would fare in a deepening recession.

At the close, the Dow was down more than 297.81 points, at 7,552.60 points, a drop of 3.79 percent. The index was just a few fractions of a point away from its lows of Nov. 20, when financial markets plummeted to their lowest point in a decade. The only Dow stock to trade consistently in positive territory on The only Dow stock to trade consistently in positive territory was Wal-Mart, which rose after reporting better-than-expected profit.

The broader Standard & Poor's 500-stock index slid 37.67 points, or 4.5 percent, to 789.17 points, unable to cling to what analysts said was an important trading threshold.

GM takes union talks down to the wire
"If we get substantially below 800 then look out below," said Marc Groz, chief investment officer at Topos, a risk-advisory firm in Greenwich, Connecticut.

The Nasdaq composite index closed 63.70 points lower, down 4.1 percent, at 1,470.66 points.

The downward spiral came as President Obama signed the $787 billion economic stimulus package and executives at General Motors and Chrysler prepared to submit major restructuring plans to the U.S. government after receiving billions in bailout money.

General Motors stock, which was more than $25 last February, was trading lower on Tuesday, at about $2.15 a share. Shares of the Ford Motor, which has not received any bailout funds, were down 5 percent.

Analysts said investors were still nervous about the U.S. Treasury Department's plans to shore up the financial system and help remove billions of dollars in troubled mortgage-related assets from the balance sheets of major banks.

"The administration is great at floating the rumors, but we need concrete plans to back that up," said Ryan Larson, head equity trader at Voyageur Asset Management. "Without any further concreted details, the market's really left to wonder. And in this environment, they wonder the worst-case scenario."

http://www.iht.com/articles/2009/02/...18marketsA.php

02-17-2009, 04:19 PM	#82
TheMercenary “Hypocrisy: prejudice with a halo” Join Date: Mar 2007 Location: Savannah, Georgia Posts: 21,393	Financial gloom was everywhere Tuesday. On Wall Street, the Dow Jones industrial average came within sight of its lowest levels in more than a decade. Financial shares were battered. And rattled investors clamored to buy rainy-day investments like gold and Treasury debt. Markets from Hong Kong to Stockholm to London also staggered lower. It was a global wave of selling spurred by rising worries about how banks, automakers - entire countries - would fare in a deepening recession. At the close, the Dow was down more than 297.81 points, at 7,552.60 points, a drop of 3.79 percent. The index was just a few fractions of a point away from its lows of Nov. 20, when financial markets plummeted to their lowest point in a decade. The only Dow stock to trade consistently in positive territory on The only Dow stock to trade consistently in positive territory was Wal-Mart, which rose after reporting better-than-expected profit. The broader Standard & Poor's 500-stock index slid 37.67 points, or 4.5 percent, to 789.17 points, unable to cling to what analysts said was an important trading threshold. GM takes union talks down to the wire "If we get substantially below 800 then look out below," said Marc Groz, chief investment officer at Topos, a risk-advisory firm in Greenwich, Connecticut. The Nasdaq composite index closed 63.70 points lower, down 4.1 percent, at 1,470.66 points. The downward spiral came as President Obama signed the $787 billion economic stimulus package and executives at General Motors and Chrysler prepared to submit major restructuring plans to the U.S. government after receiving billions in bailout money. General Motors stock, which was more than $25 last February, was trading lower on Tuesday, at about $2.15 a share. Shares of the Ford Motor, which has not received any bailout funds, were down 5 percent. Analysts said investors were still nervous about the U.S. Treasury Department's plans to shore up the financial system and help remove billions of dollars in troubled mortgage-related assets from the balance sheets of major banks. "The administration is great at floating the rumors, but we need concrete plans to back that up," said Ryan Larson, head equity trader at Voyageur Asset Management. "Without any further concreted details, the market's really left to wonder. And in this environment, they wonder the worst-case scenario." http://www.iht.com/articles/2009/02/...18marketsA.php __________________ Anyone but the this most fuked up President in History in 2012!