FILE - In this file photo taken May 2, 2011, trader Christopher Forbes works on the floor of the New York Stock Exchange. Heightened tensions over Europe's debt crisis combined with weak economic surveys to send world stock markets sliding on Monday, May 23, 2011,with the euro dropping below $1.40 for the first time in two months. (AP Photo/Richard Drew, file), On Monday May 23, 2011, 11:49 am
NEW YORK (AP) -- Stocks are plunging after warnings about the finances of several European countries stoked fears that the region's debt crisis is worsening.The Dow Jones industrial average is down 169 points, or 1.4 percent, at 12,342 in midday trading. The S&P 500 is down 19, or 1.4 percent, at 1,314. The Nasdaq is down 51, or 1.8 percent, at 2,752.
Global markets are closing lower Monday after Standard & Poor's said Saturday that it could lower Italy's debt rating within two years.
Investors are also concerned that Spain's government will have difficulty enforcing spending cuts after a defeat for the ruling Socialist party Sunday.
On Friday debt a downgrade for Greece raised fears that the country could require more financial help following a $157 billion loan package it received last year.
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0 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this commentyahoo user Report AbuseGet it right. U.S. stock prices plummet on U.S. debt concerns.
Reply- 1 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 1 users disliked this commentfreddy freeloader Report Abuse
in the words of fred sanford. "elizabeth, this is the big one"
Reply - 5 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 7 users disliked this commentFritz the cat Report Abuse
The only thing the liberals have is "It's Bush's fault". Sorry children but Bush isn't in office any more.
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Obama said he was going to save us. Not only has he not saved us, he has made it worse.
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Whether it is Bush's fault or not is no excuse for the Obama scrooowups. - 0 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 6 users disliked this commentA Yahoo! User Report Abuse
This is not a selloff. It's profit taking. We are in a bull market. Buy more every chance you get. Just look at your 401Ks, 90% of peoples portfolios are well above the 2007 market peak. There is a plethora of liquidity out there.
Replies (2) - 8 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 0 users disliked this commentObama's Momma Report Abuse
At least now we know the Globalist vision for the world is a complete disaster. Instead of only one nation failing the entire world economic system comes apart at the same time! And didn't we already know about Greece and the rest of the PIIGS last year as the market rallied to the moon? The whole world went in insane.
Reply - 8 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 6 users disliked this commentMIke Report Abuse
For those of you who blame Obama for all the current problems. Where were you when Bush spent money like a drunken sailor? The wars spending off the books. Giving tax breaks during a war. On and on and on.
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Bush screwed it up and you blame Obama.
At the same time Obama needs to cut spending. However you can't blame Obama for Buhs handing him a burning bag of you know what. - 7 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 1 users disliked this commentA Yahoo! User Report Abuse
Wall Street pigs are just stealing more of your 401k today....the money doesn't just disappear it's in the pockets of the "Banksters" and Traitors"
Reply - 6 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 2 users disliked this commentMizanur Report Abuse
the stock market is manipulated by some market makers. They tell sometype of stories each and everyday to boost the market up or bring it down. In that way they can scare the common people and do thier business with profit. They never loss thier money only the common people like us do.
Replies (1) - 4 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 17 users disliked this commentJeremy R Report Abuse
hey republicants, thanks for dooming the US for generations to come, probably forever actually. Glad you put a @#$% who can't even speak in office for 8 years who's only goal was to get to the middle east to get oil prices to record prices and to make him millions and billions. You guys are smart I tell ya!
Replies (2) - 6 users liked this comment Please sign in to rate this comment up. Please sign in to rate this comment down. 16 users disliked this commentWhat Report Abuse
HISTORY...The first big depression came after another Republican ran the country into the ground. It didn't really hit bottom until the 1930, long after the crash of the 20's. It took a Democrat to get things moving again. Social reform came out of the last depression, making thing a lot better for American's and the Democrats did it to better America even though Republican's hated it, fought it and are still fighting it. Europe was falling apart at the same time we was during the last depression and only added to American whoe's...
Right now, history is repeating it's self now and thank's to the party of NO Republican's It won't get better unless they do a turn around and work for America and not their stupid party. Standing still, like the Republican party want's to will get us even deeper into a depression. If we're lucky, we can get rid of many of the Party of NO and actually try to save a nation.
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