[Marxism] Dow drops 733 after grim Sept. sales report and Bernanke warning

["Fred Feldman" <ffeldman@xxxxxxxxxxxxxxxx>]

The economy looks shaky or worse, and the big bankers have gotten so many
trillions and billions of dollars by crashing, maybe some of the biggies are
starting to think that going down is the best bet for "accumulating" more
gifts. After all, it has worked so far. Just a speculation. The overall
situation is the same whether or not there is a touch of this going on.
Fred

http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches-10
1508.aspx?GT1
Dow drops 733 as fear drives stocks lower

Heavy late-day selling helps take out most -- if not all -- of Monday's
gains. September retail sales are grim, and a report on manufacturing in the
New York area shows a sharp contraction. Crude oil falls below $75.
JPMorgan's profit surprises the Street.

By Charley Blaine and Elizabeth Strott
Fear returned to Wall Street today, driving the Dow Jones industrials down
733 points as the stock market gave up nearly all the gains from Monday's
rally. 

The percentages losses for the Dow and the Standard & Poor's 500 Index --
7.9% and 9%, respectively -- were their worst since the Oct. 19, 1987,
market crash.

The cause was a combination of weak economic reports in the morning, a
gloomy outlook on the economy from Federal Reserve Chairman Ben Bernanke and
then heavy late-day selling, apparently from hedge funds and others
scrambling to meet margin calls.

Today's sell-off was pushing futures prices for stock indexes lower,
suggesting a weak open for U.S. stocks on Thursday. Asian stocks were down
sharply in early Thursday trading.

[snip]



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