Whoa
The Dow is crashing.
UPDATE: In comments, Youngblai writes, "Dude, it's 500 points. I think they call that a 'correction,' not a crash."
Okay, let me rephrase. The Dow is declining very steeply.
Why? Because: "With the vote at 226 to 207 against, Pelosi and her leadership team are huddled over a sheet of paper, presumably the whip count -- with the goal of flipping the needed 10 votes."
UPDATE 2: The bill failed, according to CNN. "The measure needs 218 votes for passage. Democrats voted 141 to 94 in favor of the plan, while Republicans voted 65 to 133 against. That left the measure with 206 votes for and 227 against."
UPDATE 3: The S&P 500 and the Nasdaq are falling even more sharply than the Dow.
UPDATE 4: (NUMBERS CORRECTED) The Dow finishes down roughly 777.68 points (6.98%), the Nasdaq finishes down 199.61 (9.14%), and the S&P 500 finishes down 106.59 (8.79%). Also, gold prices rose.
Ummm... well... it could have been worse, I guess?? I mean, it wasn't quite Black Monday, right?
UPDATE 5: In terms of points (though not percentages), it's the worst single-day drop ever.
It's even worse for the S&P 500, whose percentage drop is the worst since Black Monday in 1987, and the 11th-worst ever. (All the other days in the Top 10 were in the 20s, 30s and 40s.)
UPDATE: In comments, Youngblai writes, "Dude, it's 500 points. I think they call that a 'correction,' not a crash."
Okay, let me rephrase. The Dow is declining very steeply.
Why? Because: "With the vote at 226 to 207 against, Pelosi and her leadership team are huddled over a sheet of paper, presumably the whip count -- with the goal of flipping the needed 10 votes."
UPDATE 2: The bill failed, according to CNN. "The measure needs 218 votes for passage. Democrats voted 141 to 94 in favor of the plan, while Republicans voted 65 to 133 against. That left the measure with 206 votes for and 227 against."
UPDATE 3: The S&P 500 and the Nasdaq are falling even more sharply than the Dow.
UPDATE 4: (NUMBERS CORRECTED) The Dow finishes down roughly 777.68 points (6.98%), the Nasdaq finishes down 199.61 (9.14%), and the S&P 500 finishes down 106.59 (8.79%). Also, gold prices rose.
Ummm... well... it could have been worse, I guess?? I mean, it wasn't quite Black Monday, right?
UPDATE 5: In terms of points (though not percentages), it's the worst single-day drop ever.
It's even worse for the S&P 500, whose percentage drop is the worst since Black Monday in 1987, and the 11th-worst ever. (All the other days in the Top 10 were in the 20s, 30s and 40s.)
posted by Brendan Loy at
9/29/2008 01:58:00 PM
