HOLY F*CK! DOW just dropped ANOTHER 200 pts! -487 now!

[Atman]

It dropped like 200 points in a couple of minutes. Yowza.


EDIT: -532
.

[tk2kewl]

1. Now Down 537.87 (4.26%)

I think the doors are about to be locked.

[Jeanette in FL]

2. 528 now

Holy Shiite. This is bad. When does the automatice stop come into play.

[Cooley Hurd]

3. -538 now!!!!

Down 4%! :wow:

[htuttle]

5. I think the Crash of '87 was only about -508 points, wasn't it??

No wonder my ears keep popping today...

[dysfunctional press]

12. but it was a MUCH higher percentage drop...

a dow of about 2000 vs. one of 12,000

[Up2Late]

30. The Dow was below 2300 back then...

October 19, 1987 in History
Event:
Dow Jones Index drops 508.32 points (22%) (record)


<http://stock-market.superiorinvestor.net/stock-market-crash-of-1987.html>

On Monday, October 19, 1987, the Dow Jones Industrial Average fell to 1738 points from 2246

[bicentennial_baby]

34. Um, it's about percentages

The Dow was nowhere near where it is in 2007....Jeebus people, how much DUers don't know about Econ could fill an ocean...

[htuttle]

40. I can't tell you how sorry I am that I asked

:eyes:

[mnhtnbb]

4. CNBC reporting that program trading has kicked in--hence the sudden drop-off

triggered by reaching a certain level.

[mnhtnbb]

This correction is long overdue.

[TahitiNut]

20. Indeed. The inflation in the market has been chronic for a long, long time.

It's insane that people keep playing lemming.

[The Backlash Cometh]

55. I was under the impression that a lot of it was artificial.

Sort of the good news that Bush needed to sell his "surge." Don't you worry folks, the economy is buzzing and we can spend billions more in Iraq. NOT! The jig is up.

[htuttle]

8. I thought that program trades were disabled when curbs are on?

[A HERETIC I AM]

24. Curbs were set earlier today. The big 130 point drop in a matter of minutes was due to

sell orders sort of "backing up" and when the curbs were released they all hit at once. That's why it dropped so quick at 3:00.

Keep in mind that this level merely brings it back to where it was in October. Of 2006, NOT 1929!

[Beelzebud]

6. Are they still trying to claim it's from Cheney's "assassination attempt"?

[Theres-a]

7. Gulps.

All that while we were being silly in the other thread.Lawds,it's time for me to go to work.Guess I'll have to tune in tonight when I get home.Watch out for the bears....

[dysfunctional press]

seems to have leveled off...for the moment, anyway...

nt

[The_Casual_Observer]

9. This is kind of out of the blue, wouldn't you say?

This world is absolutely crazy.

[AnneD]

44. It has been expected

for some time now.

[AlCzervik]

10. long overdue correction?

[mnhtnbb]

13. Absolutely, 4-5%

[AlCzervik]

16. thank god i sold my stock and invested in magic beans!!!

i wish. Actually i hold on forever.

[robinlynne]

48. what is that sweet animal you're holding in the photo?

[AlCzervik]

49. that princess Bob, the mighty huge guinea pig.

[robinlynne]

50. very huggable!

[Double T]

11. Circuit Breakers STANDING BY.................

[Atman]

14. CNN saying 1200 point drop required to trigger halt.

Wow.

[A HERETIC I AM]

27. Yup. 10 % would halt trading altogether for the day. n/t

[Up2Late]

15. Excellent. Every thing's going extremely well.

[cosmik debris]

17. Let's all panic in unison

That's bound to help.

[Atman]

22. It's called "posting about it," not panicking.

But thanks for the sarcasm. We appreciate your contribution.

I'm calm. Just watching in fascination.

.

[Sapere aude]

31. Not to worry, most of us don't have any dog in that fight anyway.

[RebelOne]

36. Speak for yourself.

I have a 401K and an IRA with investments in stocks. So, I have a couple of dogs in that fight.

[Atman]

52. Let it ride...don't panic. The only losers today are the ones that cashed out.

This was an aberration, a glitch, a correction, whatever. It wiped out most gains since January, but that's not too bad considering. Leave your 401k alone and it will come back.

.

[high density]

41. "Most of us"

Well if that's true then good luck with building that retirement nest egg. Even with a 5% APY savings account you'll barely beat inflation if you're lucky. IMHO it's stupid not to put some money in the market if you have long term goals to grow your savings. Focusing on the daily and often irrational fluctuations in the market would give anybody anxiety attacks.

[mmonk]

18. The test wil be in bargain hunting tomorrow.

If no rally is sustained, could be in for another moribund market.

[doublethink]

19. Biggest drop since Sept 17 ....... 2001 ........

they are saying on CNBC ..... unfolding.

[FourScore]

21. Scary

K&R:scared:

[AlCzervik]

wait and see what the after closing numbers look like.

could go down more or maybe come back up a tad.

[mnhtnbb]

23. NASDAQ off >100 points. Have to go back to 2001 to see a day like this.

[SoCalDem]

25. and of course the "news chick-lets" are worried about the "poor guys" on the trading floor

and how they must be "feeling" :puke:

[Beaverhausen]

26. oh god- so glad I just put a bunch of money in the stock market

not

crap.

[ShortnFiery]

39. Same here!

I've got a fantastic IRA ... it's doing swimmingly in BELFAST!

I'm getting a kick out of the palatable FEAR in these greedy bastard's eyes. Oh, it's not that bad ... "All the big investors are looking to buy so it won't go down much more..." :rofl: JERKS! You are so worthy of some of it biting you int the a**. ;)

[high density]

42. Well, look at loaded mutual funds

Some people pay 5.75% to get into those. That's a worse hit to your money than the dump Wall St. took today...

[mnhtnbb]

28. Financials, brokerages, and Big Pharma leading the slide

[angstlessk]

29. Shite, I got some inheritance money tied up ...till I can get it out

hope there is enough to pay off the funeral expenses by the time I can cash out!

[mtnester]

32. Sigh...I ought to just go ahead and eat the capital gains and cash out my

mututal fund.

Let's not even talk about what is happening to my pension right now.

[high density]

43. Cashing out after one bad day?!

Are you serious??? Maybe you shouldn't have put money into the stock market in the first place.

[mtnester]

53. Why don't you call up my pension management company and complain to them?

I mean, investing money in the stock market? Ludicrous I know. I must be the only person in the whole world that made that stupid move. For sure the Ohio PERS fund made a horrid decision to base my pension on the stock market. Silly them.

And no, this is not my first county fair either. At some point you have to decide to sweat a decision out or cut your losses.

I will wait to see how the next few weeks go (maybe) as far as my mutual fund (which I have had for a LONG time) goes. My pension? I just have to live with that one.

So NO, I am not running screaming out of the stock market on a whim.

[Atman]

33. I'm just glad I held on to my Beanie Babies!

:)

.

[roamer65]

35. I'm over 90% into bonds, so let it crash.

[mnhtnbb]

38. Raised cash last fall--but now we're just back to last fall's level.

[A HERETIC I AM]

37. Already back up almost 200 from the low of the day. Equals almost a 350 point swing in 20 minutes

Steady there...easy now. Good bull, get that bear off your leg.

[screembloodymurder]

45. CNBC talking bullshit as usual.

My opinion, Cheney spooked the markets overseas. This is a response to Cheney's demands.

[Pachamama]

46. I feel sick....we are re-building our house and have to sell a bunch of stock to pay for the rest of

the work to be completed....(our house was destroyed in a flood - had to rebuild the house completely)

We were actually going to be selling stock - had planned it over a month ago....for tommorrow...after my husband's company had announced its earnings (because of silent periods that your not allowed to sell in)....this sucks...

His company's stock is waaaaayyy down right now....and the earnings haven't been announced yet...even if they are stellar, the market isn't happy right now....

Ugh....we probably lost over $200K and we needed every penny to pay for our rebuilding of our house...

And I don't think that the market is going to recover anytime soon....especially if Bushco. wants war with Iran...

When the Asian markets open in about 3 hours...that will be telling....

[MissB]

47. I'm sorry.

I hope things get better in the next few days/weeks as they have before.

[Pachamama]

58. So do I! And thanks for your thoughts of good luck....

Yeah, I'm hoping that there was just some temporary panic today....but I will admit, I'm worried about the direction of things and it had been our plan to be cashing out on a lot of stock, its just our rotten luck that we planned it for tommorrow because of the blackout period on sales. Wish we could have sold a few weeks back - it was up about 15% higher!

I'm actually more concerned for the future of our economy right now....It's going to be interesting to see what happens this next week....

[onenote]

51. sorry to hear about your situation

keep in mind that overall the market right now is still a bit higher than where it closed as recently as December 1; what happens over the rest of the week will be the key

[Pachamama]

57. Yeah, I'm keeping that in mind - our issue was the fact that we need the cash to pay the contractor

(or rather, the contractor needs cash right now - about $100K) so we had been planning to sell stock tommorrow. If we didn't need immediate cash, I would not worry and just wait for it to climb back up. But as they always say, timing is everything.

Tommorrow I'm going to be looking into a "construction loan" and even a loan against our 401K... Don't know much about them, but I'd rather do that (even with higher interest rates) than "sell low" at this point.

And your right about the Dec. 1st point - in fact the stock closed at about the same as that closing in Dec. But the bigger question about a lot of things is how is the future of our economy going to be and the next week is key.

[jazzjunkysue]

54. Thanks to a tip on DU, I got out last month. Tee-heee!

I absolutely love you guys! :hug:

[SmokingJacket]

56. No biggie. It's only like a couple of months' gains.

If you take a look at the year graph, it's barely a bump.