Top Leaderboard, Site wide
Truthdig: Drilling Beneath the Headlines
May 28, 2017 Disclaimer: Please read.

Statements and opinions expressed in articles are those of the authors, not Truthdig. Truthdig takes no responsibility for such statements or opinions.

Rising Star

Truthdig Bazaar
Beyond Outrage

Beyond Outrage

By Robert Reich

more items

Ear to the Ground
Email this item Print this item

Roller Coaster Dow Closes 519 Points Down

Posted on Aug 10, 2011
Flickr / Abeeeer (CC-BY)

The Dow Jones Industrial Average closed down 519 points Wednesday, a roller coaster of a day that saw ups and downs reminiscent of woeful times in the fall of 2008.

Within minutes of the opening Wednesday, the Dow was down by more than 300 points. Some of that loss was recovered by midday, but the numbers drifted steadily lower during the two hours before the closing bell.

The market has been erratic for a couple of weeks now. On Tuesday the Dow roared upward more than 600 points after the Fed announced a promise to keep short-term interest rates close to zero for the next two years. —BF

The Associated Press:

The stomach-churning highs and lows are reminiscent of the fall of 2008, the depths of the financial crisis, when there were swings of 800 or even 1,000 points in a day.

Computerized trading systems — programmed to analyze charts, capitalize on the tiniest changes in price and execute trades with no human intervention — are making the market rougher.

Read more

New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

Join the conversation

Load Comments

By SarcastiCanuck, August 11, 2011 at 12:24 pm Link to this comment
(Unregistered commenter)

Whewwwwww.If it went down 520 points I was going to blow my brains out.Relax everybody,I’m still here….

Report this

By TDoff, August 11, 2011 at 4:50 am Link to this comment

It makes little sense to evaluate the state of the US economy by tracking the Dow Jones stock values, which merely measure the manipulations of the CEO’s and CFO’s of US corporations to benefit their personal stock options, and how well the Blanfeins and Dimons on Wall Street can out-guess, manipulate, and cheat those same corporate officials, plus major investors, the US government, and the American public.

Perhaps instead we should station ‘Investment Analysts’ at crap tables in casinos across the US and have them record the amounts wagered and odds given or taken on each bet, the numbers rolled, and the net gains or losses for each player and the house on each toss of the dice. That would give us a good index of the ‘Confidence Level’ of the American public, and their ‘Economic Optimism’.

And we’d be dealing with a much better class of people than wallowing around in the degrading depths of Wall Street and the floor of the NYSE.

Report this
Right Top, Site wide - Care2
Right Skyscraper, Site Wide
Right Internal Skyscraper, Site wide

Like Truthdig on Facebook