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Stocks post first triple-digit drop for 2010

NEW YORK - The Dow Jones industrial average had its first triple-digit drop of 2010 as mounting losses from loans at JPMorgan Chase & Co. and a disappointing consumer sentiment reading sent investors rushing from stocks.

Financial stocks led the market lower Friday, pulling major stock indexes down about 1 percent from 15-month highs. The Dow lost almost 101 points, its steepest drop since Dec. 31. Interest rates fell in the bond markets as investors bought Treasurys in search of safety.

If you celebrated stocks going up as a sign of recovery, do you currently view this as a bad omen for our economy?

http://www.msnbc.msn.com/id/34876135/ns/business-stocks_and_economy/

 
Anonymous

Asked by Anonymous at 8:09 PM on Jan. 15, 2010 in Politics & Current Events

This question is closed.
Answers (9)
  • On the upside, Wall Street handed out record setting bonuses for 2009, higher than they had in 2007 before the crash.
    NotPanicking

    Answer by NotPanicking at 8:10 PM on Jan. 15, 2010

  • I just read about those bonuses, NP! Impressive. I wish I had gotten a bail-out!
    mancosmomma

    Answer by mancosmomma at 8:26 PM on Jan. 15, 2010

  • Those of us who held onto our investments last year instead of selling in a panic will not be worried about a triple digit change. Only uninformed stock holder would be worried. ANd the economy has years to go before there is any real imorovement. So, this is just par for the course, not anything to panic about.
    Anonymous

    Answer by Anonymous at 8:38 PM on Jan. 15, 2010

  • Oh yeah, the recession is over BTW. Too bad the recovery looks worse than the recession.
    MunchMunch

    Answer by MunchMunch at 8:43 PM on Jan. 15, 2010

  • No, the recession is not over.
    Anonymous

    Answer by Anonymous at 9:56 PM on Jan. 15, 2010

  • Oh, the market is way over inflated right now. If you are smart though, and the economy (strong likelihood) doesn't totally crash you can weather the storm.

    We still have some stocks. I am still willing to buy some defense/military related stocks.

    Anon :46, your are correct. The recession is far from over.
    yourspecialkid

    Answer by yourspecialkid at 10:42 PM on Jan. 15, 2010

  • It is sooo very nice that these people are so successful making in excess of 300,000. and the rest of us are doing good to make 50,000, according to a report I heard on Fox news today. UHMMM, what is wrong with this picture? It is absolutely disgusting how those who committed real estate fraud are walking around freely, making scads of cash, while the rest of us are living in and paying for homes, that may be worth half of what we paid for them. People are losing jobs right and left, I don't understand how the market can be doing anything but bad, it makes me wonder if the gov't is somehow manipulating the market...
    agentwanda

    Answer by agentwanda at 1:10 AM on Jan. 16, 2010

  • It will get worse, a second wave of mortgage failures is set to hit this year.
    Ibelongtojesus

    Answer by Ibelongtojesus at 9:41 AM on Jan. 16, 2010

  • Don't forget all the cash for clunker's cars that are getting repo'd
    NotPanicking

    Answer by NotPanicking at 11:48 AM on Jan. 16, 2010