P
Political Pagan
Guest
Come on rightwingers!! You are so eager to thank Bush when the stocks rise
by 2 points for a good economy, but when creditors start tightening,
foreclosures hit record highs, and the Dow DROPS heavily, you shut the ****
up.
http://rss.cnn.com/~r/rss/cnn_topstories/~3/142762714/index.htm
Stocks slip, day 2
Major gauges continue to retreat as investors worry about tightening
credit, subprime fallout, but decline is moderate versus previous session's
battering.
August 10 2007: 9:59 AM EDT
NEW YORK (CNNMoney.com) -- Stocks slumped Friday morning, extending the
previous day's decline, as mounting worries about the tightening of credit
and the subprime mortgage fallout gave investors a reason to retreat.
Bond prices rose in tandem, sending the corresponding yields lower, as
investors made a classic 'flight-to-quality' move into the comparatively
safer haven of bonds.
The Dow Jones industrial average (down 147.71 to 13,122.97, Charts) lost
nearly 100 points in the early going, after slumping 387 points in the
previous session, its second biggest one-day point and percentage decline
of the year.
The broader S&P 500 (down 19.86 to 1,433.23, Charts) index gave up 0.7
percent, adding to Thursday's nearly 3 percent slump.
The tech-fueled Nasdaq Composite (down 35.61 to 2,520.88, Charts) index
tripped 1 percent, adding to the previous session's 2.2 percent slide.
Stocks slumped Thursday as worries about a tightening of the global credit
market resurfaced, sparking a broad decline in stocks in the U.S. and
abroad.
Those worries continued Friday, after the European Central Bank (ECB)
pumped extra cash into the system for a second day in a row, as a means of
calming nervous trader. The ECB added $83 billion in liquidity Friday.
The Federal Reserve followed suit, adding $19 billion in temporary
reserves. The move was the biggest single temporary open market operation
in four years, the New York Federal Reserve said, according to Reuters.
Stocks have been whipsawed over the last few months on fears about
tightening credit after a period of widespread liquidity. At the same time,
investors have been trying to sort out the implications of the fallout from
the subprime mortgage market - loans made to consumers with less than ideal
credit - amid the slumping housing market.
Stock declines were broad-based, with 25 out of 30 Dow stocks falling, led
by American Express (down $0.95 to $59.70, Charts, Fortune 500), Alcoa
(down $1.09 to $34.35, Charts, Fortune 500) and Boeing (down $1.81 to
$96.49, Charts, Fortune 500).
In global trade, European stocks fell in the afternoon, and Asian markets
ended lower.
Treasury prices rallied, sending the benchmark 10-year note yield down to
4.75 percent from 4.77 percent late Thursday. Bond prices and yields move
in opposite directions.
In currency trading, the dollar was flat versus the euro and slumped versus
the yen.
Oil prices fell, with U.S. light crude for September delivery slipping 93
cents to $70.66 a barrel on the New York Mercantile Exchange. Top of page
--
"The three separate branches of government were developed as a check and
balance for one another. It is within the court
by 2 points for a good economy, but when creditors start tightening,
foreclosures hit record highs, and the Dow DROPS heavily, you shut the ****
up.
http://rss.cnn.com/~r/rss/cnn_topstories/~3/142762714/index.htm
Stocks slip, day 2
Major gauges continue to retreat as investors worry about tightening
credit, subprime fallout, but decline is moderate versus previous session's
battering.
August 10 2007: 9:59 AM EDT
NEW YORK (CNNMoney.com) -- Stocks slumped Friday morning, extending the
previous day's decline, as mounting worries about the tightening of credit
and the subprime mortgage fallout gave investors a reason to retreat.
Bond prices rose in tandem, sending the corresponding yields lower, as
investors made a classic 'flight-to-quality' move into the comparatively
safer haven of bonds.
The Dow Jones industrial average (down 147.71 to 13,122.97, Charts) lost
nearly 100 points in the early going, after slumping 387 points in the
previous session, its second biggest one-day point and percentage decline
of the year.
The broader S&P 500 (down 19.86 to 1,433.23, Charts) index gave up 0.7
percent, adding to Thursday's nearly 3 percent slump.
The tech-fueled Nasdaq Composite (down 35.61 to 2,520.88, Charts) index
tripped 1 percent, adding to the previous session's 2.2 percent slide.
Stocks slumped Thursday as worries about a tightening of the global credit
market resurfaced, sparking a broad decline in stocks in the U.S. and
abroad.
Those worries continued Friday, after the European Central Bank (ECB)
pumped extra cash into the system for a second day in a row, as a means of
calming nervous trader. The ECB added $83 billion in liquidity Friday.
The Federal Reserve followed suit, adding $19 billion in temporary
reserves. The move was the biggest single temporary open market operation
in four years, the New York Federal Reserve said, according to Reuters.
Stocks have been whipsawed over the last few months on fears about
tightening credit after a period of widespread liquidity. At the same time,
investors have been trying to sort out the implications of the fallout from
the subprime mortgage market - loans made to consumers with less than ideal
credit - amid the slumping housing market.
Stock declines were broad-based, with 25 out of 30 Dow stocks falling, led
by American Express (down $0.95 to $59.70, Charts, Fortune 500), Alcoa
(down $1.09 to $34.35, Charts, Fortune 500) and Boeing (down $1.81 to
$96.49, Charts, Fortune 500).
In global trade, European stocks fell in the afternoon, and Asian markets
ended lower.
Treasury prices rallied, sending the benchmark 10-year note yield down to
4.75 percent from 4.77 percent late Thursday. Bond prices and yields move
in opposite directions.
In currency trading, the dollar was flat versus the euro and slumped versus
the yen.
Oil prices fell, with U.S. light crude for September delivery slipping 93
cents to $70.66 a barrel on the New York Mercantile Exchange. Top of page
--
"The three separate branches of government were developed as a check and
balance for one another. It is within the court
