http://news.yahoo.com/s/ap/20070228/ap_on_..._re/wall_street
The Dow fell 546.02, or 4.3 percent, to 12,086.06 before recovering some ground in the last hour of trading to close down 416.02, or 3.29 percent, at 12,216.24, leaving it in negative territory for the year. Because the worst of the plunge took place after 2:30 p.m., the
New York Stock Exchange's trading limits, designed to halt such precipitous moves, were not activated.
The decline was the Dow's worst since Sept. 17, 2001, the first trading day after the terror attacks, when the blue chips closed down 684.81, or 7.13 percent.
The drop hit every sector across the market, and a total of $632 billion was lost in total in U.S. stocks on Tuesday...
An incredible drop, and a drastic turnaround for the stock market, which had been on a steady rise.
However (as the article mentions), economists don't think this is indicative of a major recession anytime soon - they believe it'll eventually regain ground.
Comments?
Page 1 of 1
Stock Market Plunge, 02/27/07 Worst in five years (since 9/11)
#1
- Can't touch this.
-
- Group: Admin
- Posts: 6,607
- Joined: 28-March 04
- Gender:Male
- Location:New York City, Boston
Posted 27 February 2007 - 06:57 PM
#2
- Disciple
-
- Group: Members
- Posts: 2,013
- Joined: 27-May 06
- Gender:Male
- Location:Your local pharmacist
- Interests:Drums, Guitar Hero, pretending to play guitar, getting awesome at the one song I know how to play on bass, school(yeah, I'm such a loser) music, mohney, etc.<br /><br />I suppose I'll give you an abbreviated list of bands that I like:<br />Relient K<br />Switchfoot<br />Guster<br />Angels and Airwaves<br />Arcade Fire<br />Porcupine Tree<br />Weezer<br />Mae<br /><br />It's sorta a weird mix of mainstream and not so mainstream.<br />I like a lot of single songs too...<br /><br />Bands I need to look at:<br />Plastic Constellations<br />Cauterize<br />Patent Pending<br />And a bunch of local bands that you'll probably never hear of.<br /><br />Pandora rocks.<br /><br />I'm running out of things to say here.<br /><br />Perhaps I like duct tape?<br /><br />Yeah. This likely won't be touched for another year when my tastes have completely changed.<br />
Posted 27 February 2007 - 07:12 PM
Pretty crazy. One English teavher was on Yahoo stocks trying to check one of his stocks, and when he saw the front page, I swear he almost fainted. It turns out that his stock wasn't hit too hard...
The stock market still makes little to no sense to me...Points? Dow? Closing prices? Ahhhhh!
The stock market still makes little to no sense to me...Points? Dow? Closing prices? Ahhhhh!
#3
- The toast in your toaster
-
- Group: Veterans
- Posts: 12,421
- Joined: 04-April 06
- Gender:Male
- Location:The toaster in your kitchen.
- Interests:Parkour, Martial Arts, Music, Network Administration,
-
AKA The toast in the toaster in your kitchen.
Posted 01 March 2007 - 07:38 PM
There's the NASDAQ and the DOW. I can't remember if there's others, but they each consist of different types of companies and their stocks. For insatnce (though this may be incorect) a software firm's stocks would be located in the NASDAQ. I'm pretty sure that's all correct, but it's been a while since I've had someone explain it to me, so someone please clarify.
#4
- High Sheriff
-
- Group: Moderator
- Posts: 11,988
- Joined: 21-July 04
- Gender:Male
- Location:Sitting on a fence and drinking root beer
-
AKA Wind Dude (WD)
Posted 01 March 2007 - 07:43 PM
My family wasn't affected. My dad's stock belongs to a computer hardware/software company and it wasn't hit.
From what I've heard the stock market basically crashed because everybody sold at the same time, which rendered a lot of people's stocks worthless.
That's just about as much as I can say about it because I don't really understand the stock market that much myself, it was never important for me so I didn't see the need to learn about it.
From what I've heard the stock market basically crashed because everybody sold at the same time, which rendered a lot of people's stocks worthless.
That's just about as much as I can say about it because I don't really understand the stock market that much myself, it was never important for me so I didn't see the need to learn about it.
Page 1 of 1
