CHESSNOID

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Stock market recap 10-08-2008

Posted on Oct 8, 2008 by CHESSNOID in Economy, Recession, housing market, stock market | 0 Comments

As expected, the interest rates were cut globally including the US.  The markets reacted positive. I was watching my computer off and on all day long watching the market literally go up and down multiple times.  In the last 30 mintues, it seemed like the stocks went up 200 points then down almost 200 points.  The other news that came out overshadowed the panic interest rate cuts Bernanke and other global central banks enacted. The markets closed at:

9,258.10 -189.01 (-2.00%)
1,740.33 -14.55 (-0.83%)
984.94 -11.29 (-1.13%)

We are literally closing in at the 9,000 mark. I think once we get there, there will be a big panic selling drop just like when we broke the 10,000 mark.  These numbers are unbelievable and the wealth lost with it is awful.

For the record, this economic crisis becomes worse the more Bush, Bernanke, and Paulson continue to muck it up.  So far, everything the 3 stooges touch turn into a mess.

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