Stocks plunge on recession fearsIn the first hour of trading, the Dow was down 293.70, or 2.43 percent, at 11,805.60. The Dow was last below 12,000 in March 2007.
It's down 2.8% now and I've barely been following. NASDAQ down 3.0%
Shite. Shite, shite, shite.
Well, it's early. Let's see if they can recover or if they end up suspending trading because the market tries to move even lower even faster.
Also, for more (and, much better) analysis, check out BondDad's blog at (http://www.bonddad.blogspot.com/), but I'd have to say this kind of correction is long overdue.
But, putting Medicare and Social Security in the hands of Wall Street (like Bush wanted to do) doesn't sound like that smart of an idea now, does it?