"The Standard & Poor's 500 Index slipped 1.8 percent to 843.76 at 11:11 a.m. in New York." http://www.bloomberg.com/apps/news?pid=20601087&sid=aTz.kW0u9A2A&refer=home
And moving further down, If you think about all that cheap money that inflated these markets over the last decade that if it were not for all that monopoly money, the DOW would have probabaly never crossed 10,000 to begin with, everything was so inlfated from cheap credit, historical low interest rates and bubble after bubble that right now stocks are finally adjusting to a market that is real, a market that is reflecting an economy that should not run on cheap credit or easy money. This market alot further to drop before its fairly priced to where it should be and I believe that to be at least 25% lower from levels we trade at today. Its a real wake up call for many to understand that an economy should not thrive on cheap money, that liquidity injections, low interest rates and bailouts are not the way to fix markets. The markets will fix themselves, having this type of intervention in a market place will only prolong this crisis.
Did it close there? I was trusting the Bloomberg article posted today (above): "U.S. stocks fell, sending the Standard & Poor's 500 Index below its lowest close since 2003, as the biggest decrease in consumer prices and the fewest housing starts on record signaled the recession is deepening. "
All that money seems to be chasing Treasuries. Check out the yield curve over the last two weeks: http://www.ustreas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml
Right. I understand what you're saying. The close today will be interesting. That was the implication of the article as I read it, but maybe I'm wrong.
or not the buyers wont let the market drop more web 2.0 still thriving no signs of econ weakness according to me. I can't find the mental recession. I can't find the credit crunch. where is it???? ignore the doom and gloom media. There is nothing wrong with the economy. Really, I'm serious. no one cares about the GM. no one cares about Citi or layoffs or unemployment as long as its single digits. youtube, facebook, wikipedia, myspace seeing record revenue and traffic. techcrunch is worth $200 million. Slide.com worth $500 million. mark cuban's blog is seeing record traffic, too. we are in a, new era of web 2.0, spendism, globalism, and consumerism.