World stock markets shudder, Dow dips below 10,000
U.S. stock markets appeared ready to follow global markets lower Monday as investor worries spread that a $700 billion financial system rescue plan in the U.S. would not do enough to halt rising bank failures, tightening credit, and economic slowing worldwide. The Dow Jones Industrial Average dipped to 9,843 just before noon, marking the first time the Dow went below 10,000 in four years. Nasdaq dropped 5.5 percent to 1,840 before lunchtime.
European stock markets tumbled Monday. The FTSE 100 Index fell 245.58 points, or 4.93 percent, to 4,734.67 on the London Stock Exchange, while the Dax Index declined 293.49 points, or 5.06 percent, to 5,503.54 on the Frankfurt Stock Exchange. More bank failures roiled European trading. In Germany, a $68 billion bailout was arranged for Hypo Real Estate Holding AG while France’s BNP Paribas SA agreed to buy the operations of Fortis in Belgium and Luxembourgfor $19.8 billion.
(19 votes, average: 4.95 out of 5)
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October 6th, 2008 at 1:28 pm
October 6th, 2008 at 1:51 pm
The outcome of this ‘crisis’ is hard to predict. I think it’s somewhere between “we’ll muddle through” to “if you haven’t planted carrots in your backyard, you’re gonna die.”
October 6th, 2008 at 2:12 pm
Since congress passed the Bailout for Mainstreet, I’ve been watching my mailbox for my check. Imagine my disappointment when again today nothing has arrived from the Feds! I know I’m just a rube out here in Minnesota but I had hope for some large change! Then I figured this whole scam out. I think what really happened is that the pricks in congress sent money to the pricks on Wall Street and in the Big Banks to cover up for all the idiotic stuff that they have been doing for 10 years and in exchange the pricks at the banks and at Wall Street will now send big checks (Our Tax Dollars) back to the pricks in congress for voting for this scheme! No money for USSJIMMYCARTER…
October 6th, 2008 at 2:22 pm
Can I send you a dollar, ussjimmycarter?
October 6th, 2008 at 2:30 pm
I’ll donate too, ussjc. I have some spare change. For now, at least…
October 6th, 2008 at 2:31 pm
I suggest everyone plant carrots. That’ll attract rabbits. Then you shoot the rabbits. Then you make stew!
October 6th, 2008 at 2:39 pm
Well, then you need potatoes, Marko. And onions. Maybe even some peas and green beans.
That’s my strategy for the coming depression: grow food, harvest the deer and pheasants, catch fish, and eat clams and seaweed. I’m pretty sure I’ll have to give up coffee, chocolate, beer and wine. Bummer.
October 6th, 2008 at 2:41 pm
I wish there was such a thing as bullet seeds. Ammo in bulk packs has been tough to find lately. I bought the last 2 boxes (250 pack) that my local WalMart had. If I had bullet seeds, how happily self sufficient I would be.
Plant a garden of bullets, reap a crop of awesomeness!
October 6th, 2008 at 3:02 pm
Remember, Jimmy, to smile and say “A country boy can survive” when some hungry city slicker shows up asking for food.
October 6th, 2008 at 3:09 pm
Hehe, Marko. I’ve got a bead on encroaching city slickers from 800 feet to the east and 5000 feet to the west. North and south are armed neighbors just like me.
But it all depends on the city slicker. The smart ones will hold up barter goods. They will be spared. Dumb ones will carry weapons and they will be dead.
October 6th, 2008 at 3:14 pm
When you come across an armed one, remember to spit some beechnut in his eye.
October 6th, 2008 at 3:25 pm
Im sad for the markets today. Bush spend all the monies in the usa and now the world is sad.
There’s no money to save the oceans 
October 6th, 2008 at 3:26 pm
You ain’t getting any food from me, Benji.
October 6th, 2008 at 4:05 pm
At least with the economy going to crap, we don’t have to hear as much about all of the manufactured crises such as:
global warming
childhood obesity
genetically modified crops
enlarged scrotum syndrome (E.S.S.)
hopelessness
peak oil production
voter disenfranchisement
leaving the toilet seat up
Killer bees
Womens’ right to choose
Any I’m missing?
October 6th, 2008 at 4:36 pm
The really fun part of the whole mess is that it really doesn’t matter who we elect as POTUS. There’s NO MONEY left to do anything fun with for the next 50 to 100 years! No national health care, no free college, no free this, no free that! BWWWWAAAAAAA!
October 6th, 2008 at 5:08 pm
I’m Barack Obama and y’all need to listen to me. I bring hope in this time of financial crisis. People, you’ve got a choice: four more years of the policies of George Bush and John McCain -or- four years of hope that we can change things. I mean, who do you want? George McCain and John Bush or me and Joe Frank along with Barney Biden and Harry Pelosi. Oh, yeah, and Nancy Reid. Huh? I got the names mixed up? Ah, um, hold on… I’m tired… I been up 24 hours sellin’ stocks. Hold on… I know…”
October 6th, 2008 at 5:13 pm
There will be plenty of money for free stuff for the parasites…I mean, My supporters. Although you racist crackers are generally worthless, your organs are worth a lot of money to the Chinese!
October 6th, 2008 at 7:15 pm
[...] FREE ADVICE, worth every penny, in light of “Panic engulfs global stock markets“. (1) Pay down your debts. Now. (2) Cut up all but one credit card. (3) Save, pay cash for [...]
October 6th, 2008 at 8:23 pm
Isn’t it amazing when the one country European countries supposedly hate tanks out in its own stock market, oh noes!, we be in money troubles tooo!!!1!1!111 Gee, I didn’t know they were so ‘in the tank’ for capitalism. Did YOU?!
October 6th, 2008 at 8:40 pm
Amazing how, according to Democrats, the solution for everything is taxpayers sending more money. From the environment to crappy teacher’s unions, and now – the irony of all ironies – if the economy’s bad and people are facing financial hardships, tax them an additional trillion dollars for a bill that everyone agrees won’t fix anything, that’s loaded with pork.
October 6th, 2008 at 9:00 pm
Excuse me but I thought the bailout was going to cure everything. That’s what Nanny and Franny told us. It’s their fault we’re in this mess anyway. DOOOOOOOOOO something. Whayyyyyyyyyyyyy,
Nanny and Franny lied and the Stock Market died. They should be investigated, censured and fired.
(So is this how Liberals feel after a rant. I think I need to shower with bleach. Yuck!)
October 6th, 2008 at 10:23 pm
seanmahair, If we don’t pass my plan, the economy is doomed!
What do you mean it passed? And the world economy fell anyway?!
I’ll be in China if you need me.
-This message brought to you by Hank Paulson
October 7th, 2008 at 7:03 am
I’m Hank Paulson and I have taken care of my pals on Wall Street and they will take care of the members of congress with your tax money. You rubes on Main Street are SOL! It’s a beautiful thing to be a part of the ruling elite in the Communist Socialist States of America Comrades! Muwhahahahahahah!
October 7th, 2008 at 2:00 pm
Anyone ready to secede yet?