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Wall Street Tumbles Below 10,000 Amid Global Sell-Off

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Wall Street Tumbles Below 10,000 Amid Global Sell-Off Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the US and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain. The markets have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash.

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popgoestheworld popgoestheworld 8 years
There'll be a buy back tomorrow probably.
Roarman Roarman 8 years
Strange, Bush's tactic of throw loads of money at a problem didn't work.
Michelann Michelann 8 years
Yes, Bush's first sure-fire plan definitely helped.
stephley stephley 8 years
Hey we're okay, I just heard Bush say this is why people sent him to Washington - 'ya see a problem, you put a team together and you solve it.'
organicsugr organicsugr 8 years
The Cubs will never win a World Championship again. What about Obama's plan to raise the capital gains tax? I bet that'll encourage liquidity and investment.
harmonyfrance harmonyfrance 8 years about those Cubs, huh?
organicsugr organicsugr 8 years
Oh, I know what would work. We could lower interest rates again, create even more artificially available credit and push this whole mess off another month. Who cares if it'll compound the problem of malinvestment, I need to sell my stocks first.
stephley stephley 8 years
This is scary, maybe we should talk about Ayers instead.
piper23 piper23 8 years
The government is going to want our firtborns. They can get a good price for them on the black market. Won't even have to pay taxes on the transcation.
organicsugr organicsugr 8 years
I thought for sure socialism would fix the problem. Now what?
piper23 piper23 8 years
So the 700 billion was suppose to do what again?
harmonyfrance harmonyfrance 8 years
JEEBUS. This is so scary.
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