Dow Down On Bond Downgrades!!

[rdenner]

Well the 1/2% rate cut may have been for naught, as Moody's and Fitch's has downgraded the 4th largest Bond Insurer in the nation from AAA to AA.

This caused an almost immediate 200 point drop in the DOW in the last minutes of trading.

Keep an eye on this story as it will reverberate around the world tonight

:(:(:(

Robert

http://www.bloomberg.com/apps/news?pid=20601087&sid=ammRn_kOiinw&refer=home

[greendiseaser]

That and a LOT of profit taking after the Fed decision.

I agree it was an important factor though.
Also, today we basicaly hit the top of a long term down trend line anyhow.
The markets are probably going to continue selling off again here shortly.

[Azprint]

Hm, BBC says 37.47 drop. You sure?

[greendiseaser]

Hm, BBC says 37.47 drop. You sure?

The drop from the highs was a little shy of 200.
But it went about 150 UP for the day after the Fed decision.

It is NORMAL for the market to be down after a rate cut, people!

The market BOUGHT that news a month ago ... expecting a rate cut.

Today they sell.

This just increased that sell off.

I'm not saying remain calm, because the economy IS fubar, but this isn't teh reason why.

:D

[Brendan Wenzel]

Well, either put your money in 20%+ investments or spend it immediately because it will be worth nothing by the end of the year.

[Ron2Win]

It was a net swing. Only down .30% on the day, but the roller coaster ride was big.