DJI down 150 points early

[RoyalShock]

I don't pretend to know a lot about how the DJI works in times like this, but where are the CNBC.com article titles saying "DJI down after passage of Senate bailout bill"?

[klamath]

I am glad they said this because I got so tired of hearing that the DJ's was going up after the second day of the defeat because they were hopeful the congress was going to pass the bill the next time.

[Dorfsmith]

Where's the giant live graph on Drudge? Guess this doesn't help their cause so they have to hide it.

[paulforpaul]

I don't pretend to know a lot about how the DJI works in times like this, but where are the CNBC.com article titles saying "DJI down after passage of Senate bailout bill"?

The Dow Jones Industrial Average measures the movement of 30 American industrial companies (edit: of the respective stock prices). It is considered a decent proxy for the market as a whole because of its early role as an index. The fact that it is down this morning means that there was a sell-off in those 30 stocks. You can take this to mean that people are less optimistic today about the prospects of these firms making good returns than they were yesterday.

As I write this, the Dow is down 200, the S&P 500 (500 prominent companies) down 25, and the NASDAQ composite down 50. So, the relative pessimism clearly applies to the American stock market as a whole.

Well, speculators learned their lesson from the last go around when they optimistically bid up prices assuming that the bailout would happen, transferring $trillions more to large companies.

Of course, it will be spun as "Markets are down because we didn't act swiftly. Now we must do even more! That's why the new one is 4x the length of the old proposition! A depression to come if we don't act now!"

[micahnelson]

Where's the giant live graph on Drudge? Guess this doesn't help their cause so they have to hide it.

Drudge doesn't have a cause besides selling ad space.

Why would he post the giant bump on the day after 777 if he wanted to manufacture some sort of fear. Drudge is a yellow journalist without an agenda, he stirs the pot because he likes the waves.

[Dorfsmith]

A quick glance at most of the major news sites turns up very little on the stock market. Seems they want to hide it and hope nobody notices rather than try to spin it.

[Bruno]

This is already working out as well as everyone here expected - horribly.

[paulforpaul]

WSJ reports: "Stocks extended losses, as worse-than-expected jobless data added to recessionary fears despite clear progress towards the passage of a bailout bill."

[paulforpaul]

If we were sane, that quote would have read "because of progress toward..." the bailout.

[Dorfsmith]

Drudge doesn't have a cause besides selling ad space.

Why would he post the giant bump on the day after 777 if he wanted to manufacture some sort of fear. Drudge is a yellow journalist without an agenda, he stirs the pot because he likes the waves.

I don't trust Drudge for a second.

[freelance]

S&Ps a better indicator. That's why they rarely talk about it, except maybe on CNBC.

[rprprs]

I don't trust Drudge for a second.

In times like this, you would be wise not to trust ANYONE.

(Except Ron, of course.);)