Stock Market - Meltdown Monday

Aaron62

Contributor
Staff member
#1
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

DTVUSA Member
#2
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?
 

Jason Fritz

Administrator
Staff member
#3
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

DTVUSA Member
#4
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

DTVUSA Member
#5
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.
 

Aaron62

Contributor
Staff member
#7
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

Contributor
Staff member
#8
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

DTVUSA Member
#9
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.
 

iluvtv

DTVUSA Member
#11
The market ended up at almost 700 point drop. I'm not sure what it all means. But, I know it's not good. It is said to have been the biggest record drop in 5 years. My husband works in the steel industry and it has come to a stand still. In the past few days they have cut hours drastically and re-organized the employee shifts. Needless, to say everyone is unhappy about it. He says the economy always slows down in a presidental election year and he may be right. But, I don't think it's been this bad since the Depression.

If it continues to drop, we won't need terrorist to destroy our country. Our government and our free-spending lifestyles may very well end up doing it themselves.
 
#12
This is so scary. I don't know a lot about the stock market, but when I talked to my dad last night on the phone, he said that his 401K has dipped 20% in the last 2 months! That's not good! I hope we don't see a depression.
 

Aaron62

Contributor
Staff member
#14
We've had a week of solid losses. The conspiracy theory folks are coming out of the wood works. All I can say to add to this thread, is, be calm, as long as the job market holds up, I think the stock market will work itself out.
 

Taki

DTVUSA Member
#15
Quite frankly I'm glad this is happening. The market has been overvalued for years now and this correct will make for a stronger more honest market in the future. I sympathize with all of you who lost fortunes because of this, but it is mostly your own fault. Do realize that if your making a 1-2% return a year you are doing great. Any time we have capital growth without growth in productive capacity, or consumption capacity we are going to have inflation. And if you think stagflation is bad, try a good health does of inflation for a few more years the likes of what we have seen so far this year. Milk $5.00 a gallon, Bread $3.00 a loaf. Honestly, do you think things have changed so much in two years to cause this kind of increase in wholesale prices? Well things have changed and it has nothing to do with supply and demand, the only two things that should matter in product cost. what has happened is that due to the obvious fraud and greed of fatcats, our economy is on the verge of bankruptcy, and the printing of money to save these criminals from facing bankruptcy as you or I would is doing nothing but devaluing the currency even more.
Sorry to see this happens but compare it to drug use. You may feel good for a while, but the DT's are a bitch. Same as this decade of greed and profit taking that has happened.
 
#16
I also feel that taki' theory is correct. May be all this is happening for good, may be we happen to get more honest market. What ever earlier was happening seemed farce to me too all the while.I am holding my breath back as to where it finally settles down.
 

iluvtv

DTVUSA Member
#17
Does anyone have an update on the stock market, since this week happened? I haven't really had time to watch the news and was wondering if stocks were stable again.
 
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