Dow logs biggest one-day drop in more than three years

[leveymg]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B44EB55AE%2D26D0%2D472C%2DAB41%2D788BFC4EC1B7%7D&dateid=38854%2E6716442477%2D874011085&siteid=mktw

Dow logs biggest one-day drop in more than three years
bulletin DOW INDUSTRIALS FALL 214 POINTS -- DOWN 437 IN WEEK SINCE FED HIKE

By Mark Cotton
Last Update: 4:07 PM ET May 17, 2006


NEW YORK (MarketWatch) -- U.S. stocks ended sharply lower Wednesday, with the Dow Jones Industrial Average logging its biggest one-day drop in more than three years, after the latest inflation report raised the odds of further interest-rate rises. The Nasdaq Composite Index, meanwhile, wiped out its gains for the year while the S&P 500 Index ended at a more than three-month low. The Dow industrials fell 214.28 points to an unofficial close of 11,205.61. If it settles at this level, it is its worst one-day performance since March 24 2003 when if fell more than 300 points. The Nasdaq was down 33 points at 2,195 while the S&P 500 was off 22 points at 1,270.26.

[MadHound]

1. Wow, reality is starting to hit the markets

Inflation running away, massive debt dragging down the economy, the dollar heading down, rising energy prices, a housing bubble deflating, yeah, the economy is starting to tank and it's about time the markets recognized this.

It will be an interesting end to the week.

[napi21]

2. Yes, and I happen to think Shrub signing yet another tax cut today

didn't help at all! All it's going to do is add to the debt and increase the problems!!!!

[C_U_L8R]

3. Did they suddenly discover

that the emperor indeed has no clothes ???

What was the revelation on Wall Street?

[swag]

5. One story: CPI came in above consensus expectations,

leading traders to fear that the Fed will continue with rate hikes to fight inflation.

[SmokingJacket]

4. Eh, so now it's where it was at the beginning of the month.

No biggie.

http://marketwatch.nytimes.com/custom/nyt-com/html-usmarkets.asp

[swag]

7. Yeah, and it's still up 4.55% year-to-date, 5.55% w/dividends reinvested

up 8.5% year-over-year, 11% with dividends reinvested. Granted, it's a price-weighted index.

The market-value-weighted S&P 500 is up 1.76% year-to-date, 2.5% with divs reinvested, 8.2% year-over-year, and up 10.26% year-over-year with dividends reinvested.

[Johonny]

6. Remember

The president is unpopular because of the war, the economy is GREAT!

[Robbie Michaels]

8. and freedom is on the march

:sarcasm: