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Today's Poll!Dow falls 97 points, worst showing this year
Wednesday, February 15, 2012
NEW YORK (AP) — Stocks slumped Wednesday in one of their worst showings this year as Greece, slogging through negotiations with other countries over a bailout, once again cast a long shadow over the financial markets.
The Dow Jones industrial average dropped 97.33 points to close at 12,780.95. It was the worst one-day decline for the Dow this year, and the index narrowly avoided its first triple-digit loss for the year. The average was down as much as 125 points.
The Standard & Poor’s 500 and the Nasdaq composite index climbed tentatively through the morning but gave up their gains by afternoon. The S&P fell 7.27 points to 1,343.23. The Nasdaq fell 16 points to 2,915.83.
The declines were broad, with nine of the 10 industry groups in the S&P recording losses. The only group that didn’t was materials, which was flat. Only five of the 30 stocks in the Dow rose for the day, and just barely.
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Comments
Graceful 1 year, 3 months ago
Isn't Obama's economy just reat? Gas is going up. Unemployment is much higher than the government will admit: .gallup.com/poll/125639/Gallup-Daily-Workforce.aspx Obama has proposed another $1.3 trilion deficit for next year. GM is on the downward trajectory again reuters.com/article/2012/02/15/us-gm-earnings-idUSTRE81E22E20120215 Everywhere you look is failure. The giggest failure is in the White House. We will be Greece and soon.
asb 1 year, 3 months ago
If our history and contribution to future civilizations can touch the book of Greece, soon or in 1,000 years, I'd be pleased. Greece's momentary problems are those of unregulated financial greed, something we've taught them. "Everywhere you look is failure" is a poor lyric for life Grace. Everywhere I look is recovery and a better future, more left-wing blather I suppose.
Sequoia 1 year, 3 months ago
The problem with Greece was a culture of corruption and tax evasion. It's a pretty simple problem, actually: nobody wanted to pay for anything. Tax collectors got promoted for NOT collecting taxes. The problem wasn't a government that was too strong... the problem was that the Greek government was too weak to say "This isn't working, and we're going to change whether you 40-year-old pensioners like it or not."
If you really want to make us look like Greece, just vote for anyone who has signed the Grover Norquist no-tax pledge. Norquist has straight up SAID he wants the government to go bankrupt. He thinks it is the best way to cut spending, but it sounds like a bad and pretty radical idea to me.
If you want us to be Greece, just keep cutting taxes without addressing health care and energy costs. Vote for a Tea Party government that is too weak to do anything but cut taxes. We'll be bankrupt in no time. This is not a consipiracy theory... this is what they say, in their own words, what they want to do.
JCLifer 1 year, 3 months ago
And the shareholders and retirees had to pay for all these losses that the government allowed GM to write off. Meanwhile, the CEO and corporate officers continue taking huge paychecks, and GM's vehicles continue to be poorly-engineered POS.
The best thing would have to let it go belly up, and the pieces sold off. Someone like Penske would have bought Pontiac. The good pieces would have been purchased for market prices, and the rest of the junk would have been sold at bargain basement prices to benefit future users.
Meanwhile the taxpayers took it up the tailpipe.
Sequoia 1 year, 3 months ago
But wouldn't that have had a terrible effect on the unemployment rate? Not just at GM itself, but all the chains of suppliers who depend on the American car industry as well? Would that be better? Why should they, instead of others, be the one to take the hit? I don't know much about all this, so please tell my why I'm wrong, but shouldn't the shareholders have to take a hit if they took big dividends over the years while they let the officers mismanage the company? I realize the bailout was a bad thing, but isn't there an argument that it was the LEAST bad option?
John 1 year, 3 months ago
She did not write anything about "established accounting principals," she simply wrote that when you write off debt the resulting figure goes into the credit column. So, the "established accounting principals" do NOT tell a clear story unless one LOOKS at what is in the columns.
JCLifer 1 year, 3 months ago
Yeah, and gasoline is $3.35 in Jefferson City, but only $2.29 in Columbia.
How about the city leaders start working on a gas price TRANSFORMATION???
3DMom 1 year, 3 months ago
Gas is $3.29 in CoMo.
w w w. newstribune.com/gas-prices/
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