why is the stock market tanking today?

[Liberal_in_LA]

[whistle]

1. Numbers?

[Andy823]

5. Dow is down

Over 250 and oil is up over $3!

[sshan2525]

14. Because the vast amount of Americans.....

...don't have a pot to piss in. Everone knows that in this economy, corporations are going to take a huge hit in the short run. Also, most stocks out there are grossly over-valued. If nothing else, this is a long needed "correction".

[skooooo]

2. oil prices?

[Andy823]

3. Oil is up

So once again the dollar is down. When oil goes down, the dollar usually goes up and so do the markets. Speculators are jumping at every rumor that comes out to raise oil prices. Today the head of OPEC said prices could go a high as $150 to $170 a barrel, so that made speculators jump on oil, which was down $2 yesterday. Anytime some jerk from OPEC or wall street says prices "could" go up, it causes the price to jump. It's all about greed, and the super rich making a killing on oil while Bush is still in office.

[CanonRay]

4. Oil, the Dollar is tanking, inflation. Take your pick.

Not to mention we're headed for a Great Depression II

[whistle]

6. You mean this?

<snip>
U.S. stocks sharply lower; GM shares sink 10%
Brokers no longer 'attractive,' says Goldman Sachs; oil above $138 a barrel
By Kate Gibson, MarketWatch

Last update: 12:18 p.m. EDT June 26, 2008Comments: 187NEW YORK (MarketWatch) -- U.S. stocks fell sharply Thursday, with the Dow industrials skidding to their lowest level of the year, after Goldman Sachs Group Inc. downgraded U.S. brokers and advised selling shares of General Motors, and cautious outlooks from Research In Motion Ltd., Nike Inc. and Oracle Corp.

The Dow Jones Industrial Average ($INDU:Dow Jones Industrial Average
News, chart, profile, more
Last: 11,560.89-250.94-2.12%

12:49pm 06/26/2008

Financials
Sponsored by:
$INDU 11,560.89, -250.94, -2.1%) tumbled 204.77 points, or 1.7%, to 11,607.06, after earlier hitting an intra-day low of 11,570.7, dipping below the intra-day low of 11,634.82 hit on Jan. 22.
General Motors Corp. (GM:General Motors Corporation
News, chart, profile, more
Last: 11.42-1.39-10.85%

12:49pm 06/26/2008


GM 11.42, -1.39, -10.8%) weighed most heavily on the blue chips, down more than 10%, after Goldman Sachs told clients to unload their positions in the face of the deteriorating automotive climate. See full story.
On the New York Mercantile Exchange, oil futures jumped $3.60, or 2.7%, to $138.15 a barrel, slightly off an earlier high of $138.90, while gold futures climbed $31.7 to $914 an ounce. Read Futures Movers.
Of the Dow's 30 components, only Coca-Cola Co. (KO:The Coca-Cola Company
News, chart, profile, more
Last: 53.86-0.24-0.44%

12:48pm 06/26/2008


KO 53.86, -0.24, -0.4%) was trading in positive turf, up 0.2%.
The S&P 500 ($SPX:S&P 500 Index
News, chart, profile, more
Last: 1,292.46-29.51-2.23%

12:49pm 06/26/2008


$SPX 1,292.46, -29.51, -2.2%) fell 22.73 points, or 1.7%, to 1,299.24, with all 10 of the index's industry groups losing ground.

<MORE>

http://www.marketwatch.com/

[JNelson6563]

7. You've got questions, we have answers

Every day right here at DU we have a team of hard working, informative and wicked smart folks I call the Marketeers. They post in the LBN forum every business day on the Stock Watch Thread: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3369001

Always good stuff to be found there with liberal doses of humor. Stop by and give 'em a rec for their hard work of keeping us all up to date.

Julie--a shout out to the Marketeers! :hi:

[Liberal_in_LA]

22. Thanks for the info everyone.

[no_hypocrisy]

8. If you put or keep your money in the stock market, you lose some of it.

If you invest the same money in oil futures, you make a profit.

Not much more complicated than that.

[soothsayer]

9. Easy. The Fed said they will not lower interest rates.

[Warpy]

10. Because it's Thursday?

Looking for rational reasons for daily rise or fall is an exercise in either delusion or futility.

However, there is adequate reason for the trend to be generally down until we get the GOP out of office. There might be a return to guarded optimism as soon as Obama takes office, but we won't have any sort of market prosperity until fundamental changes are made in the system. That means it will be a while until it turns around.

I predicted a slow fall in January that would continue over the next year, at least. April and May threatened to make a liar out of me.

Yeah, I just love being right. :P

[colt equalizer]

11. Why is my home worth 20% less? Why am I paying $4.25 per gallon?

and why is my 401k tanking? These are going to be major issues in November. I just called my (Dem) Senator's office and asked the same question. His answer was "they are doing their best". Thank God they are not doing their worst....

[elizfeelinggreat]

12. You asked the state senator

why your 401K is tanking and why gas is expensive?

[colt equalizer]

16. No, I asked my (Dem) United States Senator. NT.

[elizfeelinggreat]

18. What did I miss?

I live in Texas also and both my US Senators are Republican.

Your profile says you joined yesterday and your city and state are Dallas and Texas.

[colt equalizer]

19. That is where I am from, not where I live.

I live in MN.

[elizfeelinggreat]

20. clever

Thanks for explaining that.

[colt equalizer]

21. What can I say, I am blond.

I guess I never thought about that. When someone asks me where I am from I always respond TX.

[librechik]

13. Fed wouldn't lower rates yesterday?

[Tesha]

15. Onionesque: "Oil prices rise $10 on rumours of oil prices rising $10."

The same principle also applies in the stock markets.

Tesha

[fascisthunter]

17. Because of Speculation that the Feds will Raise Interest Rates

Maybe Wall Street is trying to send a signal to their government?

[Subdivisions]

23. Fed declined to lower interest rate. n/t

[aint_no_life_nowhere]

24. Investors pulling out of stocks and getting into commodities?

It seems that oil futures now have a life of their own, unconnected to the actual supply and demand of the underlying product. Oil and other commodities appear to be the safe and profitable investment.

[lpbk2713]

25. Dow closed down 355 pts.

A few more days like this and it will break below 11K.

Is it January 2009 yet? .... Please?