U.S. stocks suffer worst week in a year

[xchrom]

http://www.marketwatch.com/story/us-stocks-open-steeply-lower-as-gdp-disappoints-2011-07-29-957550?dist=afterbell

NEW YORK (MarketWatch) — U.S. stocks slid Friday, sending two major indexes to their worst week in more than a year, as Congress prolonged the uncertainty over the nation’s debt ceiling.

“The debt issue is hurting the economy,” said Aaron Smith, senior economist at Moody’s Analytics. “Confidence is dissolving more rapidly than the data and markets would suggest.”

The White House said President Barack Obama would consider signing a short-term extension of the debt ceiling if it would give lawmakers time to complete a longer-term deal.

But spokesman Jay Carney said the administration still believes a deal can be done to raise the borrowing limit by Aug. 2.

[snappyturtle]

1. Glad it's Friday. nt

[Angry Dragon]

3. It was mentioned earlier that they were working all weekend

They are afraid if they do not get this done they will lose their month vacation
I say even if done they do not deserve a vacation

[snappyturtle]

4. I agree with you but I was referring to the stock market....glad it's closed

for a couple of days.

[Big Blue Marble]

2. So it comes to that.

Obama is going give the Republicans everything they want and more including the short term raise.
They knew if they held out they would get it al that he would cave.

And he seriously thinks it will different next time? WTF is he thinking?

That also gives him another bite at the entitlements apple. Just great.

[golfguru]

5. The stock market will hold rock solid

over the weekend :rofl:

[girl gone mad]

6. It will probably be a bloodbath if we default.

Long dollars, Swiss francs and yen (as always).