Oil jumped up by $16.37 
, current price is $120.92 per barrel.
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Noooooooooooooooooooooooooo!
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Both Dow and oil was down today. Dow closed down 162 points at 10854 while oil was down $13.06 to $ 107.86.
If the Congress delays or reduces the financial rescue package there will be blood on Wall street and the effect's will be felt the world over.
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what volatility, my my!
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Dominos baby. The unregulated chickens have come home to roost. Will the $700b keep the moat from drying up or will a second financial 'surge' be needed down the road to 'beef' things up? Whenever legalized corruption is allowed to take place there should be blood. This thing had a fuse as long as 100 football fields, I guess the fed thought someone else would put it out (let the market correct itself after all no) or did they think the easiest way to get what they want was to wait until things started to get knocked over and then yell panic?
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^ Already some in the financial world are saying the $700bn is not going to be enough. Figures of $3 to $5 trillion are being banded around. What a mess by these so called financial gurus. For the govts around the world it is a case of damned if you do and damned if you dont.
^ Already some in the financial world are saying the $700bn is not going to be enough. Figures of $3 to $5 trillion are being banded around. What a mess by these so called financial gurus. For the govts around the world it is a case of damned if you do and damned if you dont.
If that is what it takes.......then the Tax Payers will own all the Financial businesses......................
USA will become a Socialist Country...........seems like Capitalism got trumped by Socialism................:(
the vote has failed, crash n' burn.
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The markets went down 700 points after the package was rejected but have recovered to 500 down on news that a revised package might be coming back to the congress.
An hour before closing the situation is:
Dow10,419.13 -724.00 -6.50%
Nasdaq2,010.82 -172.52 -7.90%
Red Monday!
I thought its done but:
Dow 10,410.37 -732.76 -6.58%
Nasdaq 1,983.73 -199.61 -9.14%
S&P 500 1,115.84 -97.17 -8.01%
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The dow closed down 778 points at 10365. The biggest fall since 1987. Stocks lost $1.1 trillion. Oil crashed over $10.
Gloom all around, worse to come.
I have never seen the situation this bad.
Single largest point drop in history.
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Dread to think what will happen tonight on the far east markets and tomorrow morning on the European markets.
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Nothing major happened in Europe stock markets, while Australia/Japan markets suffered losses but not to that extent as US.
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European markets are holding calm at the moment. Waiting for direction from wall street.
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Yet another Red Monday in the making!
Currently Dow below 10,000!! (9,969, -356,** -3.45%)
Nasdaq below 1900 !! (1862, **-85.38, -4.38%)
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now down over 500 points. The markets are in meltdown and the banks are in trouble.!!!!