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American Shares Plunge To 12-Year Low
amcluesent
Posts: 9,425 Forumite
"US shares have plunged to a 12-year low after President Obama announced plans to prop up America's crippled banking system.
The Dow Jones Industrial Average sank 250.73 points (3.40%) to 7,114.94 at the closing bell, breaking its November bear market low and hitting the lowest level since May 1997."
Who's surprised? The Great Depression took 3 years before the market found a floor. Another 4 or 5 of these sell-offs to go before the last capitulation?
The Dow Jones Industrial Average sank 250.73 points (3.40%) to 7,114.94 at the closing bell, breaking its November bear market low and hitting the lowest level since May 1997."
Who's surprised? The Great Depression took 3 years before the market found a floor. Another 4 or 5 of these sell-offs to go before the last capitulation?
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Comments
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IMO The FTSE has a long way to drop aswell , thus affecting pensions & Investment even more, Many on MSE seem to be under the impression that this will be over in say a year or so ! In reality it has a long way to go befor we turn the corner, & then only a slow recovery... People forget this is a WORLD recession ..0
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Green shoots extinguished yet again....
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Will the FTSE drop as a result of the news from USA ?Mortgage free
Vocational freedom has arrived0 -
Well it does seem that where America leads, the UK follows. Even if it is downwards...Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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the FTSE is still trading at about 10% above its 10 year low,but its not looking good0
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Be 'interesting' to see what this news about AIG has over here.0
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posted this earlier on 'generalis thread of doom' but thought this pictorial representation of the share market was relavant here as well. there is hardly any share market in the world presently in the green in any sector.bubblesmoney :hello:0
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I reckon the FTSE 100 will bottom out at about 2,500.
It seems to holding up unreasonably well given all the indicators.0
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