Title The stock market has crashed published to feedsfullspeed.
Report sent to feedsfullspeed. about The stock market has crashed
This article is located at feedsfullspeed.
The world’s central banks tried to jump-start investors’ confidence today with coordinated interest rate cuts.
On Wall Street, it looked like the move was doing the trick late in the day -- until the final 30 minutes of trading.
The Dow Jones industrials had been up as much as 150 points going into the final half hour, then abruptly gave it all up and closed down 189.01 points, or 2%, to 9,258.10. Broader indexes also lost between 1% and 2%. It was the market's sixth straight loss, and left the Dow off 34.6% from its record high reached a year ago this week.
Still, the action today was dramatically improved from the previous two sessions. The Dow was off 370 points Monday and 508 points Tuesday.
And Wall Street fared much better than Europe, where most market indexes plunged between 5% and 7% today despite the rate cut announcement.
.jpg)
On the New York Stock Exchange, 749 stocks rose and 2,457 fell. That’s lousy, except when compared with Tuesday’s sell-off, when just 387 issues rose while 2,879 fell. On Monday, a mere 248 stocks were up.
Some stocks today sparked genuine enthusiasm: Agricultural products giant Monsanto Co. reported a fiscal fourth-quarter loss, which was expected (it’s a seasonal issue). But the company said it expected fiscal 2009 earnings to be up 15% to 20% and that its farmer customers weren’t reporting trouble getting credit.
Monsanto’s shares surged $7.26, or 9.8%, to $81.44.
Among blue chips, battered General Electric Co. sank as low as $19.90 but finished at $20.65, up 35 cents. The overnight rate the company was offering on commercial paper was 1.25%, down from 1.90% on Tuesday, Bloomberg News reported. That hinted at some improvement in the credit markets.
But other key short-term rates continued to climb, despite the central banks’ rate cuts. The three-month dollar Libor loan rate (short for London interbank offered rate) rose to 4.52% from 4.32% on Tuesday.
If there’s to be a noticeable turn in confidence, "We’ll see it first in the credit markets and then in the equity markets," said Marshall Front, chairman of money manager Front Barnett Associates in Chicago.
One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week.
Meanwhile, oil prices looked for direction as traders weighed fears that a world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far. Light, sweet crude rose 14 cents to $89.09 per barrel on the New York Mercantile Exchange.
Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 386.7 million shares.
The Russell 2000 index of smaller companies fell 6.77, or 1.24 percent, to 539.80.
In Asia, Japan's Nikkei 225 closed down 0.50 percent while the Hang Seng added 3.31 percent. In afternoon trading, European bourses advanced, with Britain's FTSE-100 up 1.65 percent, Germany's DAX up 0.86 percent, and France's CAC-40 up 0.34 percent.
On the Net:
* New York Stock Exchange: http://www.nyse.com
* Nasdaq Stock Market: http://www.nasdaq.com
London Stock Exchange trading derailed by computer crash on frenzied ...
Trading on the London Stock Exchange has been halted after a computer fault. ... Alongside the rally in the FTSE 100 and in stock markets in Germany, France, and Italy ...
more ...
go to website
Stock market has crashed; major mortgage companies have filed for ...
Bush says if you can look beyond this, our economy… ... Stock market has crashed; major mortgage companies have filed for bankruptcy...?
more ...
go to website
Cached
rediff.com: Why did the stock market crash?
B lack Monday saw bloodbath on Dalal Street as the Indian stock markets crashed by over 1430 points in afternoon trade (the market has since then recovered somewhat), reminding ...
more ...
go to website
Cached
The rouble has tumbled, the stock market has crashed, and investors ...
Moscow caught in a bear hug ... The rouble has tumbled, the stock market has crashed, and investors have pulled $25bn
more ...
go to website
^DJI: Basic Chart for Dow Jones Industrial Average - Yahoo! Finance
Customize the date range from 1 day, 5-day, 1-month, 3-month, 5-month or more. Perform chart performance comparison with other stocks or market indices.
more ...
go to website
Cached
Financial crisis brings global cooperation as everyone scrambles
Russia's stock market has crashed and shut down at least until Friday, an event that ordinarily would prompt front-page headlines by itself. Now it's a footnote in the wider emergency. All this explains yesterday's belated attempt by world authorities ...
more ...
go to website
Source: Baltimore Sun
NewsDateTime: 4 hours ago
Party Like It's 1929!
When the stock market crashed in 1929, most Americans saw the value of their investments evaporate overnight, and then watched ... Shanty towns sprung up all over the country when people lost their homes and farms to foreclosure in what has been ...
more ...
go to website
Source: Huffingtonpost.com
NewsDateTime: 3 hours ago
Uncle Sam: The Owner Of Last Resort
By my reckoning, Uncle Sam has already sunk in excess of $2 trillion through ... The housing market crashed, banks went under and now the government is here to save the ... Between 1929 and 1932, the stock market lost 90% of its value. A third of the nation ...
more ...
go to website
Source: Forbes
NewsDateTime: 5 hours ago
Bear Markets Take No Prisoners
... just sold preferred stock issues that yield their Berkshire Hathaway (nyse: ... You are left with modest risk on top of what already has bloodied us. Actually ... The housing market crashed, banks went under and now the government is here to save the day
more ...
go to website
Source: Forbes
NewsDateTime: 5 hours ago
Government Made the Mess
As for the stock market crash fear, it crashed in 1974 and 1987, and there was not any Great Depression ... None of this has ever really been explained. When pressed, they go back to stock phrases, referring to "systemic risk" that really mean one ...
more ...
go to website
Source: Street.Com
NewsDateTime: 10/3/2008
One other encouraging signal from the credit side: Massachusetts was able to sell $750 million in short-term tax-free notes today, a sign that investors were returning to the municipal debt market. That could bode well for California, which plans to tap the muni market for $4 billion in short-term funding next week.
Tonight's town hall style debate is moderated by Tom Brokaw of NBC News. Brokaw will ask six or seven of the more than 6 million questions submitted over the Internet.
Videos from YouTube
Title: Shanghai Stock Crash China Green Energy NEWS more!
Categories: china,alternative,csi,market,energy,renewable,stocks,News,stock,300,rogers,shanghai,composite,jim,
Published on: 7/1/2008 2:29:43 AM
Title: Mini Stock crash video
Categories: stock,street,race,mini,cars,Autos,
Published on: 1/7/2008 1:32:59 PM
Title: Smash Beer Stocks Crash Compilation 1
Categories: Racing,Entertainment,2002,Season,NASCAR,2003,
Published on: 5/3/2007 10:24:54 PM
Title: Super Stock crash
Categories: stock,crash,super,ANDRA,westernational,Autos,
Published on: 4/1/2007 4:45:49 AM
Title: Smash Beer Stocks Crash Compilation 2
Categories: Racing,Entertainment,2002,Season,NASCAR,
Published on: 5/5/2007 10:39:33 AM
No comments:
Post a Comment