Dow Below 10,000, Commodity Stocks Fall(down 100 pts., oil up to $53.50)

[RedEarth]

NEW YORK (Reuters) - The blue-chip Dow index fell more than one percent on Wednesday, sliding below 10,000, as oil prices resumed their climb while mining stocks fell.


The Dow Jones industrial average (^DJI - news) was down 100.37 points, or 1.00 percent, at 9,976.81. The Standard & Poor's 500 Index (^SPX - news) was down 11.39 points, or 1.01 percent, at 1,110.48. The technology-laced Nasdaq Composite Index (^IXIC - news) was down 9.25 points, or 0.48 percent, at 1,915.92.



http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=7&u=/nm/bs_nm/markets_stocks_dc

[AlCzervik]

1. Holy shit, last i checked it was only down a little bit.

[sniffa]

8. i'm ignorant on this

is the market crashing?

[AlCzervik]

9. it was a big dip in a very short time period

the price of oil is up again and the market hates instability. The oil price is a far reaching problem that will hit all of us hard and not just at the pumps. Prices on consumer good will go up because trucking companies have to pay mor for fuel. Prices go up, sales go down.

[daa]

12. No its not crashing

but it is bad news for Chimpy. Presidents do not get reelected when the market is lower than when they took office.

[Ezlivin]

2. We're "turning the corner" though!

Damn, just another ray of sunshine in a flawless world.

Can I have the medication that Bush is on? I want to live in a fantasy world for a while—it's better than the world he's created.

[Kierkegaard]

6. 21 more days.

Then you can get screwed up on your choice of hallucinogens. Right now, we need you sober, Ez...

[barb162]

7. "things are picking up; any job is a good job...."

just listening to him tonight should be good. He will again talk about more tax cuts, all the Burger King jobs he's creating, etc. He won't mention that he promised his tax cuts would create 320,000 jobs per months.

[Connie_Corleone]

3. "The economy is getting better and stronger."

[louis-t]

4. Hmm, I had a thought about this a year ago

I guessed that the market would start a decline within 30 days of the election and posted it here. I know, I know, it'll bounce back tomorrow but let me have my moment of clairvoyance.

[hadrons]

5. it will give Kerry some extra ammo tonight

[benburch]

10. Looks like it may still close above 10,000

I'm sure that Bush's friends will help him out here prior to the last debate.

[benburch]

13. Close was at 10,002.3

Expect a real plunge at the open as the late buying was probably institutional investors propping up the Market for Bush's debate tonight.

[puerco-bellies]

11. Wild-ass day in the commodities today

Crude was down 40+ cents on the open and I started to sweat because I've been holding off from selling my longs and shorting the energies. With about an hour thirty minutes the markets rallied to save my ass, metals too!! Damn it's days like this that I regret I no longer imbibe martinis.
P-B