$1,200,000,000,000.00 Loss on Wall Street today.

[Shardik]

1.2 TRILLION dollars.

That's a lot of zeros.

I know it's not news but damn, that's hurting a lot of people's retirement accounts.

[grantcart]

1. It will be matched by that tomorrow

but hundreds of thousands of jobs are about to be wiped out in the next few days.

[DeschutesRiver]

7. You are right about both points

and that is just for starters this week.

Can you imagine ahead and through October? I almost can't anymore.

[dkofos]

2. It' mearly a correction.

[dogindia]

3. guess time will tell.

lots of zeros...

but then all those crooks did not get free tax payer dollars.

[MindMatter]

4. There is a real adjustment needed, but it will come back

Americans have been living on credit and that world is not sustainable. Today is an over-reaction, but everybody will have to change their priorities and lifestyle expectations. We couldn't go on with China financing our lifestyles forever.

But that $1.2Tn number is bogus. It is only a loss if you have to sell today. This will all get settled and the market will come back.

And if Obama is able to turn the tables on the fascists, and actually invest a good part of that $700Bn into infrastructure and industries that actually create jobs and make things of value, we will be much stronger in the long run. It may take 6 months or a year for the market to return to its high, but this time it wlll be based on real value rather than casino-style speculation.

Stay cool. This is going to work out.

[Shardik]

8. I hope you're right (that it will all work out)

But for those who are going to need to liquidate portfolios in the next few years, it may be tough.

The adage of "it's not a loss until you sell" is true, but I've been seeing too many stocks go to junk status here lately. Then again, the markets are fickle and could depend on the color of the President's tie that he wears on a certain day for all I know.

[angstlessk]

5. hell, if they can lose that much in ONE FUCKING DAY..OUR MEASLY

700 BILLION is a drop in the bucket for that kind of cash!!!! If we had given them that 700 billion and it STILL CRASHED..WE WOULD BE OUT 700 BILLION!!!

[Ikonoklast]

6. Only if you sold.

Paper losses, unless you panicked.

[Junkdrawer]

9. CORRECT. DO NOT SELL THIS WEEK...

Chumps sell during market panics.

[Shardik]

11. There are a lot of stop loss orders out there that may have been carried.

Tomorrow will be interesting.

[TBF]

10. Yet the house passed a trillion dollar military spending bill late last week,

and noone was talking about that...

[torbird]

12. Oh, but, you know, it's great that the bailout failed.

I mean, sure, a lot of ordinary Americans are now ruined along with the tycoons, in fact, a hell of a lot more ordinary Americans just lost everything they had, but at least that damned bailout failed. Right, everybody? Maybe Michael Moore can, like, give everybody who lost their life savings $100 or something.

[Shardik]

14. Okay, please tell me you're being sarcastic?

[Poseidan]

13. I think...

The most honest thing we can do, considering tomorrow is a Jewish holiday, is blame Jews.

For the 'slow' among us, please know, I am joking.

[Indenturedebtor]

15. It is perhaps appropriate that tomorrow is the day for reflection and repentance n/t

[screembloodymurder]

16. That's market value. Don't forget, one trade effects the whole market.

If XYZ Corp. has 100,000,000 shares and the stock trades 100 shares down $1/share. You've lost $100,000,000 of market value.