BBC News: US Stocks plunge in global sell-off

[TheBaldyMan]

Tuesday's financial woes continue around the globe as a slowing US economy and mortgage fears come home to roost.

from http://news.bbc.co.uk/1/hi/business/6451031.stm">BBC News reports

Wall Street has followed a stocks sell-off in Europe as concerns about the US economy and mortgage industry continue to reverberate.

In the US, the Dow Jones fell below the psychological 12,000-point level for the first time in four months.

London's FTSE 100 index slumped 160.6 points, or 2.5%, at 6,000.7. French and German markets were also hit.

The sell-off comes just as stocks were starting to recover from a sharp slump that rocked markets late last month.

A 2% slump in the US on Tuesday sparked the latest round of global stock turmoil.

:sarcasm: Quick - another tax cut! :sarcasm:

[ORDagnabbit]

1. plunge protection team to the rescue! n/t

[KansDem]

2. *Quick - another tax cut!*

I agree...we have to get the trickling down going...and NOW!!!

:silly::sarcasm::silly:

[Zenlitened]

3. BBC report somewhat dated. Dow, Nasdaq back in positive territory.

Still time to lure a few more rubes into the market, so the high-fliers can collect their profits and leave us two-bit players holding the bag! :D

(I actually heard one of the talking heads on CNBC this a.m., saying it could be a good time to buy shares in sub-prime lenders. Uh... not for the likes o' me it ain't.)

[TheBaldyMan]

5. Yes , the BBC has updated the report as well,

it's well worth a read, it has a little on the problem with sub-prime borrowing. It is still of the opinion that the markets look as if they'll remain volatile for the next month.

Maybe Chimperor Bush will start a war with Iran to protect Halliburton fromn any price volatility in it's share price.

[Warpy]

4. There was a $100 or so sell off early this morning

then the Dow bounced back up. It's been going back and forth between -35 and +35 for much of the day. As of 20 minutes ago, it was up 35 and change.

Early this morning it was nervous nellies panicking after yesterday's panic sell off due to bad foreclosure news. Today it's bargain hunters. Who knows about tomorrow?

There is still more to hold stocks up than there is to push them down. Banks and brokerages who bought up subprime lending companies have taken a big hit, but nobody else has.

I'm not about to make any predictions for six months from now, though.