Dow Jones Plummets Over 500 Points, Biggest Drop Since May 2010…
(CNBC) — Stocks plunged sharply Thursday, with the Dow down more than 500 points, in the biggest selloff since May 2010. All three major averages tumbled into negative territory for the year as investors were rattled over an intensifying global economic slowdown and ahead of the widely-followed monthly unemployment report.
“We’re not steering this bus — it’s all coming from Europe,” Art Cashin, director of floor operations at UBS Financial Services told CNBC. “We’re hearing reports of funds drawing out of European banks and we’re pretty close to something that might turn ugly.”
“It may translate into a strain on the financials system and earnings on the multinationals, which have been carrying the load for Wall Street,” Cashin added.
Posted by ZIP on Thursday, August 4, 2011, at 4:05 pm | 
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Europe is in free fall and Obama wants to join in. HELL NO!!!!
Bam is giddy, mission almost accomplished
Best economics president evah! //
“We’re hearing reports of funds drawing out of European banks and we’re pretty close to something that might turn ugly.”
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Yes… it will…
Obong0 – driving the economy like he stole it (which he and Soreass did)!
Meh, no biggie, debt ceiling has been raised and its Husseins b’day! Be happy!
Party on DUDES!
Yep and the media is blaming the tea party already for the “draconian” cuts and not raising taxes. The media in this country is in more of a free-fall than the market. Journalism now = pure propaganda.
obama and his Soros commies “PART! PARTY! PARTY!!!”
obama and his Soros commies “PARTY! PARTY! PARTY!!! I ruined the economy, the country, and the world, SATAN take over, PARTY! PARTY! PARTY!!! ”
Thanks House.. way to have our back.. I mean stab us in the back..
Obong0 – driving the economy like he stole it
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@Sentinel… love it…
So then the debate was over how many millions each Rep was getting out of the raising the debt ceiling deal?? Is that what took so long, cause I didn’t she diddly shit in savings in that plan of theirs.
Obumbler, strikes again!!!!
We are all 4.2% poorer….in one day….obumbler reportedly to be cackling while eating a leftover peice of birthday cake and washing it down with a slurpee.
Sending this letter out to family & friends who LOVE Obama..
BREAKING/DOW DOWN -513.
Capital Markets have lost 1.1 TRILLION in just 9 DAYS!
Now,tell me again how “we’ve begun to turn the economy around”,tell me again how Obama “saved us all from going over a cliff”, how Obama “save or created MILLIONS of jobs”..Tell me again how I need to quit bashing Obama, his Admin., his policies, his layers of red tape tangled like spider webs, strangling business’s.
Maybe it is YOU that should turn the channel and quit listening to the “Lefts Lies”..
And Obama was overheard (while playing – badly – another round of golf) “It’s Bush’s fault! I inherited it! BLAH BLAHH BLLLAAAHHH!
Congratulations to John Boehner.
He is the one man who is solely responsible for this. He had the power to fix the mess we’re in.
Instead, he sold us out.
Unemployment Propaganda to be presented as “good news” (ie unemployment numbers will be down)… http://www.cnbc.com/id/44019660
whoever is the 45th president will be able to say, “I inherited this mess from Obama!”
Hey Barry…it’s working.
whoever is the 45th president will be able to say, “I inherited this mess from Obama!” or ” I am Obama and you think that was a mess, bitches, watch this.”
Have you read the book “Patriots”? This is the way it all started.
WE’RE ONLY A FEW DAYS AWAY!! from FUNDAMENTALLY CHANGING the u.s.of america,
mission accomplished obongo! now soros can pick up the pieces for pennies on the dollar, not to mention his short sales
“I’ll have ANOTHER Satan sandwich, with a SIDE of Satan Fries!,” Stretch Pelosi.
the only bright note I can see is that ALL the idiot MSM anchors / anchorettes are most likely fully invested in the market because they KNEW that raising the Debt Ceiling! was the Solution! to our Debt Problems
I hope the 45th president will have enough dignity and class to NOT blame his – or her – predecessor, unlike the Obamanation.
Somewhat OT
Something flying below the radar:
French court orders probe of IMF chief Lagarde http://news.yahoo.com/french-court-orders-probe-imf-chief-lagarde-115917208.html
Lagarde was once a partner in a prominent Chicago law firm, Baker & McKenzie. She’s a globalist. Dominique Strauss-Kahn was shoved out of the way just in time to get her elected to head the IMF.
It’s the corrupt Chicago thug way.
remember last week before the debt ceiling deal, our overlords were cautioning that we must act swiftly in order that we don’t spook the markets? yet another bogus meme shot down in flames.
GET THE DAMN B.C. AND ALL THE OTHER B.S. THAT DESTROYED ”OUR COUNTRY”………..GET RID OF THE ILLEGALS THEY ALSO PULLED OUR COUNTRY DOWN…………..MAKE SURE THAY TAKE ALL THE BABIE THAT WHERE BORN IN THE U.S……THE WAR BEGINS, OBAMA HAS DESTROYED AMERICA IN 2 + YRS………HOPE HE’S HAPPY, BETTER YET GET ON A PLANE AND HEAD TO KENYA…………PISSED OFF AGAIN.
Beans, Bullets, and Band-Aids, people. The only ones who are going to save us, is us.
Don’t worry everyone. No problem. Obama is going to tax corporate jets and make it all better.
I guess the 100 $38k high roller (but not “rich”) friends of BO must be pleased with their investment in this moron.
“a fool and his money are quickly parted”
I have my supplies. Bring on the “Pocky-Lips” LOL
Wait till this motherfucker gets re elected. Welcome to the new normal.
Be of good cheer! This 513 point drop is another nail in the coffin of the Marxist In Chief’s reelection campaign. My 401K has also taken a hit, but I know the stock market and the economy will rebound as soon as this Marxist is voted out of office.
Volatility is the name of the game. The more that the gubmint can create crisis after crises, the more that the godforsaken investment pushers can “advise” their clients and collect fees. And the more the investment brokers make, the more the banks/investment companies can fork over to the politicians.
It’s really quite simple to figure out, and most of all – it’s perfectly legal. Actually, I take that back. It isn’t just legal, it is actually promulgated by laws that by and large exempts brokers from liability arising from their so-called “advice”.
Just sayin’ is all, ’cause we’ve got the best politicians that money can buy…
Not to worry folks, all we need is another bailout, the last one worked so well.
Ron Paul the only Constitutional Conservative left in the Republican cabal!
It’s time for a real change!
UNEXPECTEDLY!
wow just a whole lots of trolls and hate mongers here…go america…