Thursday, August 04, 2011
The first taste of Teabagger poison
Has reached the lips of the stock market as that paragon of economic reality shit the bed in a 500+ point dive on the realization that the majority of the developed world has wholeheartedly embraced austerity and there is nothing stopping the Depression now.
Stocks around the world fell sharply Thursday on intensifying investor fears about a slowdown in global economic growth and worries about Europe’s ongoing debt crisis, which is centered now on Italy and Spain.And today is only Thursday. If you know anybody who works in the financial district, tell them to watch out for falling brokers.
Stock market indexes in the United States and Europe dropped more than 4 percent as Japan intervened to weaken its currency and the European Central Bank began buying bonds to try to calm markets.
At the close, the Standard & Poor’s 500-stock index was down 60.27 points, or 4.78 percent, to 1,200.07. The Dow Jones industrial average was off 512.76 points, or 4.31 percent, to 11,383.68, and the Nasdaq was down 136.68, or 5.08 percent, to 2,556.39.
It was the biggest percentage drop since February 2009.
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