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Dow Falls 800 Amid Europe Lending Worries

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sabra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 01:49 PM
Original message
Dow Falls 800 Amid Europe Lending Worries
Source: CNBC

The stock selloff accelerated Thursday amid buzz in the market that European banks have halted lending.

One trader, on the condition of anonymity, said he heard fixed income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now.

"This is similar to what took place pre-Lehman Brothers," the trader said.

The Dow was down more than 800 points in afternoon trading, led by Bank of America , Hewlett-Packard and Caterpillar .

Read more: http://www.cnbc.com/id/36988229
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Posteritatis Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 01:53 PM
Response to Original message
1. Gotta love the calm, rational, deliberate invisible hand of the stock markets.. (nt)
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sfwriter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:46 PM
Response to Reply #1
11. another invisible handjob in action... NT
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Iowa Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 06:54 PM
Response to Reply #1
13. Yep, that's the nature of the stock market in the short-term...
Volatility is inevitable and to be expected.
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bergie321 Donating Member (797 posts) Send PM | Profile | Ignore Thu May-06-10 02:08 PM
Response to Original message
2. If we reregulate them
It might hurt the markets though...
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no limit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:10 PM
Response to Original message
3. Wow thats insane. When was the last time we saw a drop that big? Down 300 now
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Dappleganger Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:12 PM
Response to Reply #3
5. The market was due for a sharp correction...
painful to watch, though.
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Posteritatis Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:55 PM
Response to Reply #3
12. Late eighties from what I'm hearing in the news. (nt)
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Ruby the Liberal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:11 PM
Response to Original message
4. I saw a -994 before Plunge Protection kicked off.
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Strelnikov_ Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:22 PM
Response to Reply #4
6. Plunge protection . . is that kinda like a BOP for the Ponzi . . oops . . Stock Market? n/t
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Ruby the Liberal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:33 PM
Response to Reply #6
7. Pretty much. Good analogy!
That is when the Fed jumps into the market and buys stocks like crazy. When things settle back down, they quietly sell them back off.
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high density Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:36 PM
Response to Reply #4
8. Or, umm, maybe some traders (or their computer programs) wanted to buy low?
I dunno why everything has to be a conspiracy theory.
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Ruby the Liberal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:39 PM
Response to Reply #8
9. It fell faster than it kicked back up
No doubt there were Buy limits triggered on the way up though.

PPT is not a conspiracy. :)
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Arrowhead2k1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:39 PM
Response to Original message
10. Somebody shat their pants today. nt
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unkachuck Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 09:00 PM
Response to Original message
14. should I....
....be getting into the market now?

"The Dow was down more than 800 points..."

....an official 'Rube Goldberg' method to raise capital for a house-of-cards economy....
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underpants Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 09:03 PM
Response to Original message
15. I thought it was the "fat finger"
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