CNN: Stock market down due to "concerns" about Cheney

[blitzen]

yeah, right....

NEW YORK (CNNMoney.com) -- The stock selloff worsened near midday Tuesday as reports of slumping stocks in China and Europe and a steep decline in durable goods orders raised worries that the recent rally may be tapped out.

News that Vice President Dick Cheney was the apparent target in a Taliban suicide bombing attack in Afghanistan added to the morning concerns.

[Swede]

1. Fear and greed rules the stock market.

Always has and always will.

[maddezmom]

2. more like due to concerns the big Dick was drumming up support for an attack on Iran

[underpants]

3. Actually China (holder of the US dollar and US debt) dropped 9%

the Chinese market or something to that effect.

I started a joke poll on how this (Dick) would be spun-I see now that he is all powerful amongst the groupthink media

[maddezmom]

7. well at least we both agree, Wall Street etc wasn't concerned about Cheney's

so called assassination attempt. :D

[twiceshy]

8. China is a Damocles sword.

Despite general impression, that China is an invincible economy ready to take over the world, there are massive internal problems. Trillions in non-performing bank loans. Remember when Japan was unstoppable, movies like "Black Rain" predicting Japan astride the world. China's denouement will make the Japan crash of the early 90's look like a picnic.

[underpants]

14. Welcome to DU

the place is ripe for an old fashioned* reveolution too


*-from the countryside.

:hi:

[leftyladyfrommo]

4. This is awful but everyone where I eat in the morning was saying

that it was too bad they missed Cheney. I would think that would make the market go up again.

[GreenPartyVoter]

17. I think that thought passed through many a mind

[leftyladyfrommo]

22. Really, it would be a very bad thing if Cheney got killed.

I cannot even imagine what Bush's reaction to something like would be.

He would be an even more crazy maniac than he is now. He would probably nuke the whole Middle East.

Having a crazy person with his finger on the button really makes me nervous.

[BluePatriot]

5. Ditto the yeah, right

The Chinese market being down 9 percent (!!!) is probably it.

http://money.cnn.com/2007/02/27/news/international/bc.markets.china.stocks.close.reut/index.htm

They just got back from their one-week holiday shutdown, though, so maybe that played a role.

[napi21]

6. Are we SURE it's not down because the news said Chehey was OK?

Yea, I know. I'm dirty, mean & nasty today!

[truedelphi]

9. You and I - We Iz sharing some grey matter today

That was very much my first thought as well

[jobycom]

11. Right, you're mean.

Like none of us wondered that, too. :rofl: You were just impolite (meaning bold) enough to say it.

[sinkingfeeling]

10. Really rational people move the market, uh?

[Norquist Nemesis]

12. BS with a cherry on top!

The "news" about Cheney, had they been successful, would have rallied the country behind an effort to pull out all the stops and hold no prisoners...at least in the beginning. It doesn't matter what Cheney's ratings are; when one of our elected officials is "assassinated", even when that official is one of the worst disasters in our midst, the American people won't stand for it. Translation: Ramp up the military; you've got a blank check!

[spanone]

13. Bullshit, it's based on the overnight Chinese market plumetting.

[Lone_Star_Dem]

18. No kidding

That and the fact that the economy is on track for a recession.

Dow Drops 180 on Fear of Correction

By MADLEN READ AP Business Writer
© 2007 The Associated Press
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NEW YORK — Wall Street fell sharply Tuesday, joining a global stock decline sparked by growing concerns that the U.S. and Chinese economies are cooling and that U.S. stocks are about to embark on a major correction. In midday trading, the Dow Jones industrial average was down 180.65, or 1.43 percent, to 12,451.61.

Broader stock indicators also fell sharply. The Standard & Poor's 500 index was down 22.27, or 2.06 percent, at 1,426.67, and the Nasdaq composite index was down 54.57, or 2.18 percent, at 2,449.95.

A 9 percent slide in Chinese stocks earlier set the tone for U.S. trading, a day after investors sent Shanghai's benchmark index to a record high close.

Investors' confidence has been knocked down by a slew of data showing that the economy may be decelerating more than anticipated. A Commerce Department report that orders for durable goods in January dropped by the largest amount in three months exacerbated jitters about the direction of the U.S. economy, which were raised a day earlier when former Federal Reserve Chairman Alan Greenspan said the economy may be headed for a recession.


http://www.chron.com/disp/story.mpl/ap/fn/4585780.html

CNN is so full of crap.

[enki23]

15. who knows, it could even be true

he has a lot of rich "friends." and they may well be invested in his continuing to live as vice president of the united states.

there is muck, and filth, and shit a mile deep wherever that man treads.

[Recursion]

16. When will financial reporters learn statistics 101?

I'm getting so sick of financial reporters who don't even undertsand the concept of variance. It's fruitless to grub around for special causes of data points that are within the population's variance -- for the stock market, that includes everything but the most severe spikes and drops (which this ain't).

I think it's popular to do so because it lets securities traders continue their fantasy that they are some kind of wizard deftly making fortunes out of chaos rather than coming to terms with what they actually are.

[madrchsod]

19. they should learn journalism 101 first

crap like this makes me mad that i dropped journalism

[TheCowsCameHome]

20. You've got to be kidding me. This is a joke, right?

[MoonRiver]

24. Not a joke, at least in CNN's deluded collective "mind."

But it is almost unbelievable that CNN.coN would try to spin that crap.

[Generator]

21. Yeah without endless war how can "they" make their millions

This is ridiculous or is it not? Cheney is some overseer of the planet I guess. :scared:

[MoonRiver]

23. CNN has now officially jumped the shark.

:crazy:

[Horse with no Name]

25. I should think that would make it go up

But hey...what do I know.:silly:

[Fovea]

26. I figured that would be more about

China's market crashing last night.
China shrank what, 10% last night?