Dow, Nasdaq futures are going through the floor.

[Renew Deal]

U.S. FUTURES & MARKETS INDICATORS
September 2005 Change Price Last updated
S&P 500† -9.10 1196.80 8/29 2:12
Fair Value 1206.09 8/26 18:47
Difference * -9.29 8/26 18:47

September 2005 Change Price Last updated
NASDAQ† -12.50 1551.00 8/29 2:10
Fair Value 1561.76 8/26 18:47
Difference * -10.76 8/26 18:47

September 2005 Change Price Last updated
DOW JONES† -76.00 10331.00 8/29 2:10
DJIA contracts

http://money.cnn.com/markets/morning_call

[wli]

1. here comes 1929 v2.0 n/t

[Endangered Specie]

2. IIRC the Dow dropped 700 after 9/11

will use that as a benchmark on momday

[tritsofme]

10. After a 2.5% (IIRC) move in either direction

all electronic sales stop, and if the drop's big enough the market will eventually shut down for the day.

Various safeguards were put into place after 1987.

Unless the storm is much worse than what we're hearing now, I wouldn't imagine the Dow losing more than 150 points.

[WillyT]

3. Yep, And Look At The Asia\Pacific Markets !!!

Link: http://quote.yahoo.com/m2?u

More than a few bombs are gonna drop tomorrow!!!

:scared:

[Porcupine]

4. I don't get it. Why the selloff? n/t

.

[cliss]

5. It's oil

It's got to be oil. Whenever the price of oil goes up, Wall Street goes down.

They must know more than I do.

[newswolf56]

6. Because without oil the entire card-house of the U.S. economy collapses.

And if Katrina does the damage predicted, the U.S. oil supply will be instantly reduced by about 15 percent -- enough to precipitate total collapse.

[expatriot]

8. Not just oil: midwest ag and man. exports/imports, ins.losses,1M+refugees

the list goes on and on.

[newswolf56]

15. I know the list. That's why I said "total collapse."

Nor will the impact be limited to the United States. As I understand it, destruction of the port facilities will also result in global food shortages (just as the lack of fuel will precipitate huge food shortages -- and probably famine -- here at home).

Far too few people understand the ultimate fragility of our high-tech infrastructure, much less the suicidal enslavement to oil into which we have been sold -- betrayed -- by our greedy DemoPublican politicians.

Factor in Bush Administration economic policy -- utter fawning protectionism for the oligarchy, totally predatory exploitation and oppression of everyone else -- and you have the socioeconomic equivalent of what meteorologists call a "perfect storm."

[expatriot]

7. Are you joking?

The 35th largest metro area is about to be submerged beneath the sea (per the Associated Press). Just think what this will do to the property insurance industry ALONE.

Add to this the fact that NO is perhaps the largest US seaport... nearly all of the midwest's agricultural and manufactured exports go out of N.O.

Add to this the MAJOR ASS oil disruption... a complete FUBAR of domestic oil production in the gulf and a MAJOR ASS disruption of Venezualan imports.

Add to this AT LEAST ONE MILLION refugees (just from NO, not to mention Biloxi, Mobile, Baton Rouge, Pensacola, etc.).

Add to this the MAJOR disruption in services and distrubution of goods nation-wide.

This is catastrophic.

[Porcupine]

12. The fat lady is on stage but the singing ain't started

I know we are vulnerable but DAMN. These people are shorting the whole damn world and fast.

[CountAllVotes]

13. We are living in a global economy

and the sooner people realize this and wake-up to this fact, the better off we all will be!

:kick:

[tritsofme]

9. Pretty messy overseas too

NIKKEI 12,300.06 -139.42 -1.12%
HANG SENG 14,798.93 -183.96 -1.23%

[Warren DeMontague]

11. Everybody's buying? Then SELL!

Oh, wait. Everybody's Selling? Then BUY!

[nadinbrzezinski]

14. Folks did anbody watch the FX original movie predicated on

this disaster for the oil barons?

Stock up on food suplies the effects of this will be nation wide I fear... the way the economy is a house of cards right now, we are in for some major fun, NOT

[newswolf56]

16. Yes. Saw the movie and took it to heart.

I already have a month's supply of rice, beans and coffee, and now I fear that may not be sufficient.

But it won't be a disaster for the oil barons: they (and their fellow oligarchs) will just get all the more obscenely wealthy, even as the rest of us are flung ever deeper into hopeless poverty.

[nadinbrzezinski]

17. I stocked up due to the earthquakes

live in it, but getting more dry goods tomorrow... will be fun not, and there is a rumor of an independent trucker strike in the works too

[newswolf56]

18. Earthquakes where I live too: Puget Sound area. Didn't mean the movie...

prompted me to lay in supplies; I already had those on hand. When I said "took it to heart" I meant believing the movie's awful prophecy.

Don't forget toilet paper: you'd be surprised how fast it vanishes from the shelves when there's a transportation breakdown.

[nadinbrzezinski]

19. I know Price Club tomorrow for me

and I am suposed to be in LA for a COn next week... if things get bad in the next few days I think I will have to cancel.. battne down the hatches mostly

[oasis]

20. Thank you for your leadership G.W.Bush.

:hurts: