Dow ends worst day in 7 months on Saudi fears

[bemildred]

Source: Reuters

NEW YORK
Fears about the economy and unrest in Saudi Arabia darkened the outlook for equities on Thursday, pushing major indexes below key technical levels.

The Dow Jones industrial average was down 228.48 points, or 1.87 percent, to end unofficially at 11,984.61. The Standard & Poor's 500 Index was down 24.91 points, or 1.89 percent, to finish unofficially at 1,295.11. The Nasdaq Composite Indexwas down 50.70 points, or 1.84 percent, to close unofficially at 2,701.02.

The Dow's worst day in seven months came after reports that authorities in Saudi Arabia had opened fire on demonstrators, increasing anxiety about instability in major oil-producing nations.

Read more: http://www.latimes.com/business/la-fiw-markets-20110310,0,4812703.story

[Iliyah]

1. NO

the dow is down b/c of whats happening the the US as well. I remember before the protest broke out in the Middle East and Africa here in Southern California they were telling us that by Summer of 2011 the gas prices will be $4.00.

THAT WAS BEFORE, at least a month or two before. The oil people are just greedy assholes.

[Sonoman]

2. Yep.

They are simply attempting to justify their profit-taking.

We'll be paying $4.40 by mid-May.

Sonoman

[onethatcares]

3. "darkened the outlook for equities on Thursday", well golly gee

my outlook for equities has been darkened a time or three and all I ever hear is, "get your ass outa bed and go to work".

What we have here is a good old boy club that bets against everything on the planet, be it raw materials, finished products, or labor. It has no real applicable relevance to us except for it taking all of our savings and using it for antes.

[lovuian]

4. I think Michael Moore's handcuffs have them worried

the revolutions are a tsunami ...and they can't stop them