Monday, October 06, 2008

Wall Street tumbles amid global sell-off

NEW YORK (AP) - Wall Street suffered through another traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points and setting a new record for a one-day point drop as investors despaired that the credit crisis would take a heavy toll around the world. The Dow also fell below 10,000 for the first time since 2004, and all the major indexes fell about 5 percent.

There are two reasons for this. The first it was Congress that caused the crises in the first place, and the same people are now going to be the ones to fix it! Ha HA and Two Barrack Obama is ahead in the polls.

The second reson is even more significant. Obamma has promised over 1 Trillion Dollars of new spending, he has promised to end all tax cuts and close all tax loopholes. The market is simply reacting to the prospect of an Obama WIN.

If he remains strong in the polls and actually wins you will see a collapse of the market like none in history as all the real money is moved to shelters.

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