Stocks plunge as new wave of anxiety sweeps markets

On the 20th anniversary of Wall Street's worst one-day market crash, stocks tumbled Friday as the confidence that produced record highs just 10 days ago gave way to revived economic worries tied to housing troubles and a stubborn credit crunch.

The Dow Jones industrial average sank almost 367 points, or 2.6%. Last week, many investors surmised that the worst of the fallout from the sub-prime mortgage debacle was over. Full Story »

Posted by Kaizar Campwala
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Posted by: Posted by Kaizar Campwala - Oct 20, 2007 - 9:51 AM PDT
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Edited by: Fabrice Florin - Oct 20, 2007 - 4:59 PM PDT

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Chris Finnie
3.7
by Chris Finnie - Oct. 1, 2008

As good as most stories on this topic, like the rest, it ends on a "who knows?" note that is all too common in financial reporting. I think it was John Kenneth Galbraith who was widely quoted as saying that the only reason for the existence of economics as a science was to give astrology a good name. This story, and its fellows, proves his point. Personally, I'm tired of the endless speculating. As nearly as I can tell, it creates a virtuous circle of investor jitters that further roil the markets.

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Jack Dinkmeyer
4.0
by Jack Dinkmeyer - Oct. 1, 2008

Disquieting article. Obviously no one has an accurate crystal ball concerning the economy, but there's a nagging feeling something bad is lurking ahead in our future. One factor is oil. If pump and fuel-oil prices follow the per-barrel price of oil--and if that price continues to spiral upward--it will be a cold winter for the economy. Retail is already preparing for the holiday season by initiating deep discounts.

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Patricia Blochowiak
3.2
by Patricia Blochowiak - Oct. 1, 2008

My sense is that the author has little understanding of the seriousness of the problem with predatory lending and how it effects the national and international economies.

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Kaizar Campwala
4.5
by Kaizar Campwala - Oct. 1, 2008
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