Stock Market Meltdown
It's a Bloodbath. That's the only way to describe it. By Mike Whitney
On Friday the Dow Jones took a 280 point nosedive on fears that that losses in the subprime market will spill over into the broader economy and cut into GDP. Ever since the two Bears Sterns hedge funds folded a couple weeks ago the stock market has been writhing like a drug-addict in a detox-cell. Yesterday's sell-off added to last week's plunge that wiped out $2.1 trillion in value from global equity markets.
On Friday the Dow Jones took a 280 point nosedive on fears that that losses in the subprime market will spill over into the broader economy and cut into GDP. Ever since the two Bears Sterns hedge funds folded a couple weeks ago the stock market has been writhing like a drug-addict in a detox-cell. Yesterday's sell-off added to last week's plunge that wiped out $2.1 trillion in value from global equity markets.
posted by Kangaroo Brisbane Australia at 2:18 PM
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