Stock Market - Meltdown Monday

Aaron62 · 10-06-2008, 08:33 AM

Wow, this is bad...

Dow 9,887.00 -438.38 (-4.25%)
Nasdaq 1,850.72 -96.67 (-4.96%)
S&P 500 1,047.47 -51.76 (-4.71%)

Anyone else keep up with the stock market? Some of the markets in Europe and other Eastern countries have actually halted trading.

acwriter · 10-06-2008, 01:35 PM

Oooh, you're good. I just came in to post about this very thing. I opened up my yahoo account and the Associated Press said the market plunged 800 points, yesterday. This was a record drop for them. They were able to recover about 500 points before closing, but it was still a bad day. They said oil prices were dropping as well. I hope at least that part is a good thing. Anybody have any ideas on how all this will affect those of us not in the stock market?

Jay · 10-06-2008, 02:23 PM

Quote:

They said oil prices were dropping as well. I hope at least that part is a good thing. Anybody have any ideas on how all this will affect those of us not in the stock market?

It's not pretty, but atleast gas and commodities are back down! It's the stagflation that worries me the most. Hopefully we'll get a good ole Christmas rally in November/December.

Byte24 · 10-07-2008, 09:22 AM

I don't worry about it, I only put a few dollars away each month towards my 401K. I have a long time to go until I retire, so I'm sure everything will work itself out over time.

acwriter · 10-07-2008, 01:33 PM

Yes, from the way things are looking stagflation is a very real possibility. Thanks for the link Jay, it was very explanatory. I wish we as a family and as a nation were better prepared. Many of us go on as if there will always be an unending supply of resources, when in actuality nothing is certain.

Jay · 10-07-2008, 04:59 PM

If yesterday was "Meltdown Monday", today is "Terrible Tuesday"!

Aaron62 · 10-07-2008, 06:18 PM

Just in time for my dad's retirement this year. Seriously, what's up with the market! This will mean less jobs available for graduating college students because retirement age workers will need to work another year or two.

Aaron62 · 10-09-2008, 08:13 AM

Another bad day so far, I think it's just panic setting in now.

Dow 9,116.65 -141.45 (-1.53%)
Nasdaq 1,733.24 -7.09 (-0.41%)
S&P 500 967.98 -16.96 (-1.72%)

acwriter · 10-09-2008, 09:48 AM

Oh man, this isn't good news at all. I hope this isn't going to turn into a snowball effect or our economy is headed downhill very fast. I'm not sure that the big bank bail out was a good sign, either.