$700bn Bailout is shot down by House of Rep Vote (205-228), US stock market plummets

Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by briansmith on Monday September 29, 2008 @03:13PM (#318679)

Stocks are only down ~6%. The Dow is regularly going up and down hundreds of points at a time these days, -571 points is not really that big of a deal.

Plus, what would you expect to happen? Investors were counting on about $1 Trillon of free money from the government, and then the government pulled it back at the last minute. In a few days there will be news of a new deal and the DJIA will be up 500 points again. And, if the House of Representatives keeps doing its job, then the DJIA will fall 500 points again when the next "no" vote comes.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by tlrobinson on Monday September 29, 2008 @08:09PM (#319075)

And while it's the biggest single day point loss, it's not even in the top 10 percentage losses.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by kirse on Wednesday October 01, 2008 @12:16PM (#320824)

Not to mention the majority of it bounced back the next day.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by run4yourlives on Monday September 29, 2008 @05:36PM (#318867)

Well, I wouldn't equate a single day's loss to mean much. The DOW is going to get lower and lower, even if it has a few blips here and there.

The key is this: The DOW dropped 500 points because nothing happened. Theoretically, the markets are in the exact same position they were in Friday, yet they fell.

Once more Wachovias start pilling up, that's when you'll see the slide begin.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by prospero on Monday September 29, 2008 @06:24PM (#318942)

Same exact position as Friday, minus the prospect of $700 billion. That's not a trivial difference.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by run4yourlives on Monday September 29, 2008 @07:06PM (#319002)

I'm not suggesting it's trivial. I'm simply suggesting that the worst is probably yet to come.

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