This story is archived
Wall Street Slammed After China Stock Woes »
Posted by: Karina 2 years, 9 months agoWall Street fell sharply in trading Tuesday, joining a global stock decline on growing concerns about slowing economies in the U.S. and China. The decline in the Dow was the largest loss since the first trading after September 11, 2001.
Read Full Story at foxnews.com »
Submitted By:
Karina
Karina Longworth blogs about film at Spout.com. She co-founded the film blog Cinematical in March 2005, whilst simultaneously completing an MA in Cinema Studies ...
This Story is Archived and Commenting is Closed
Comments: 157
-
-
2Labs
Feb. 27, 2007, 12:34 p.m.Go ahead, listen to the talking heads and divest yourself if you wish, then mark down the closeing values of the major market indicators today and check back in 6 and 12 months to see what you missed out on.
I'll keep my money where my mouth is.
-
walden3
Feb. 27, 2007, 1:40 p.m.this seems like maybe bad news. when a creditor goes through hard times it only makes sense for them to call their loans and/or not lend as much. so shouldn't we expect china to not float us as much credit if they're hurting? and won't this mean that the dollar will fall further and i-rates will have to go up in order to make investment in the US look good?
-
-
endofdays
Feb. 27, 2007, 2:29 p.m.There are very few financial "woes" in China right now.
According to the Wall St Journal the country is currently sitting on $1.07 TRILLION in foreign currency and securities, and is adding about $20 BILLION per month to that total, mostly through the sale of Chinese-made goods.
They are kicking our ass at every turn. Pyongyang mumbles something about taking steps to curb speculation and the NYSE goes into a nosedive. It's almost enough to lead one to believe that we have become a nation of day traders.
The US and Europe have to take immediate steps to compel the Chinese to revalue their currency.
-
toph1973
Feb. 27, 2007, 2:41 p.m.Even Greenspan is warning of recession. Who will the neocons blame this time? Although it's been recession here in Colorado since 2002, so really nothing is going to change.
-
-
-
bill2936
Feb. 27, 2007, 3:26 p.m.Anyone think it might have to do with the attempt on Chaney? With nothing else to show, I do. Might be a good time to buy today, then watch in a week it will be higher.
-
Harbeas
Feb. 27, 2007, 3:31 p.m.I sure am glad we are into globalization! The little guy is really making out good with it.
-
PilotSmall
Feb. 27, 2007, 3:43 p.m.No, the long bull run is DEAD! Watch! You should have bought gold months and months ago! Cycles go up, cycles go down, now we are in a long term down. Watch!
-
-
PilotSmall
Feb. 27, 2007, 3:54 p.m.I posted the clue on this over three weeks ago when the Chinese refused to buy an additional 50 Billion USD in US long bonds, which then went hunting for a buyer at deep discount so the US could pay the mortgage! Economics is very close to physics! It ain't over.
-
-
saneman
Feb. 27, 2007, 4:05 p.m.Isn't this a signal for the CEO's to take a huge bonus, since they do such a fine and upstanding job.
-
-
Amazing1
Feb. 27, 2007, 4:22 p.m.The economy has been in trouble for some time. It is only a matter of time before it completely collapses. In the history of the world there has never been a fiat currency that failed to crash. And the Federal Reserve is just cranking it out, day and night. It may not happen this week or next. Possibly not this year. But it will collapse.
-
-
-
simonsez
Feb. 27, 2007, 5:08 p.m.I think short sellers will drive this market further down for the next few days.
-
xlegultx
Feb. 27, 2007, 5:15 p.m.I think we should start boycotting imports even if the government doesn't take steps to increase tariffs. Buy only things made in America regardless of the price. Sooner or later companies will stop having all their products made in child labor camps and then shipped into the U.S.
-
TheTruth1973
Feb. 27, 2007, 5:18 p.m.I needed a quick Bash Bush fix and knew some hippie pinhead would feed my fix...it only took one post!
I'm glad GW takes the fall for a perception about China's economy. Maybe Al Gore can fix that, too.
Or maybe Rolling Stone will devote an article to it.
-
TheTruth1973
Feb. 27, 2007, 5:25 p.m.And one bad day after an eight-month rally and it's the end of the world???
-
NelsonR
Feb. 27, 2007, 6:01 p.m.When any country prints money with reckless abandoment what do you expect, a continuous bull market. Its time to pay the piper for the presses running overtime. Georgie was Republican, I thought. Now with the housing boom over and with the bubble bursting look to george for your salvation. He can't do it. Georgie needs money for Iraq.
All Americans have been spending overtime without any thought of Saving. Now what can the average American expect when their home has been their ATM for many past years. The bubble will affect all, some sooner than others.
Gloom and doom, you got it. Long overdue. The main point is that Americas upper elite will be cushioned by this downturn. Their foreign investments will see them through this long term financial strain on the average American. But thats life. Accept it the elite are always one step ahead of all those average tax paying citizens.
-
lovermanComment has been removed: User banned.
The first 106 comments are shown. Show all 157 comments »
Submit a Story
Advertisement
