I saw this and was stunned!
Dow slammed, posts worst-ever point decline
Blue-chip index plunges 778 points after House rejects bailout bill
NEW YORK - Wall Street ended a stunning session with a huge loss Monday, with the Dow Jones industrial average plunging 778 points — its largest point drop ever — after the failure of a House vote on the financial bailout plan.
Wall Street started tumbling as the vote was shown on television Monday afternoon, sending investors fleeing to the relative safety of credit markets, worrying that the financial system would continue to sink under the weight of failed mortgage debt.
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I hope it will rally tomorrow. Maybe the impact will give everyone something to think about. I don't mean to create a panic. I know our economy will rebound. I know it will come back once we get a fix on the problem and find a solution.
Shane O'Gorman "Buy or Sell, I'll Treat You Well!"
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Crazy market....housing looks good compared to the stock market right now.
Hopefully we'll get a rebound if they can pass a new bill.
yeah its a liquidity crunch, if they cant get the 700B from congress wallstreet will liquidate anything they can to come up with it. but it shoud work its way through the system one way or the other soon
Shane,
Don't freak out yet. Though the largest one day drop in the DOW it is not in the top 10 for largest percentage drops in a day. I believe in 1987 it dropped 25% while today it was around a 6-7% decline. Keep your fingers crossed...
It is a good time to put your money into real estate.
YEPPERS! Time to buy up some RENTALS!
M
We are in for it as a country. Why can't our politicians be honest and stop spending money. Yicks! I believe we are in for it gang. Let's prepare for what is to come! Hang on!