Pass the Bailout! Pass the Bailout!
Or the markets will fall! Things will fall apart! Falcons will not be able to hear falconers! Mere anarchy will be loosed upon the world!
Stocks plunged at the Monday open after a deepening financial crisis in Europe heightened worries about a global economic slowdown.
The S&P, Dow and Nasdaq were sharply lower, following a broad sell-off around the world.
The Dow dropped 280 points immediately at the open, approaching the 10,000-point benchmark, before bouncing back a little to a 202-point decline The Nasdaq and S&P each fell about 2.3%.
Japan’s Nikkei index plunged 4.3% to close at a four-year low. European indexes - the Britain’s FTSE 100, Germany’s Xetra DAX 100 and France’s CAC 40 - were down about 5% as investors looked beyond the bailout, focusing instead on Europe’s growing crisis.
“It’s this fear factor … continuing to grow,” said Peter Cardillo, chief market economist for Avalon Partners, before the market open. “It’s becoming like a cancer which is spreading all over the place.”
Fear factor? Isn’t that a television show? I’m more worried about Big Brother.
Michelle Malkin told us they’d be back for more.
Thank goodness the pork barrel is full enough to get us through the long hard winter.