Holy Stock Market plunge Batman!!!

Anyone see what happened at the close of the market today? OUCH!

CNBC footage of the plunge: (LINK). Lets hope for a better day tomorrow.

With the market being so bloated, you would expect it to make some adjustments.

I agree, but that's a WHOLE LOT of "adjustment"in one day... one afternoon.

part of it was a computer malfunction. the dow dropped 200 points in 2 min. that probably caused a chain reaction of selling and basically everything dropped. (slowly shakes his head) they should've used macs.

And China talks of no longer allowing investors to leverage stocks on credit. Causing their market to fall.. The Chinese market tipped the "domino", and everyone was selling.

Oh god...heh.

I am looking into jumping into investing right now. Makes me a little scared honestly.

Ah...just checked the mutual funds my college money is in. I just lost >$600 today

its funny you bring this up ride, about the middle of the day today my boss looks over at me and says " well there went my retirement" I asked why and he said " the stock market went down the toilet!"

Hmmm... a new "Black Tuesday"?

Gets pretty scary when you think of how much money people have riding on the stock market. Guess it time to buckle our seat belts and hang on for the roller coaster ride.

i really dont think it is a big deal. people forget that our unemployment rate is somewhere near 4.5% and such. i think our economy is doing amazing and i for one think this 400 point drop is something that is inevitable but doesnt really have a largescale effect on us as individuals.

...and at least at the moment, the market is up today. Not recovering all of yesterday's losses, but up at least.

Yes, it's a good sign of stabilization. Glad to see it.

it dropped the most in china it was lik 9.9% or something, today people are going to be buying like crazy because prices will be so low

I was expecting something like this to happen since it was sitting at record highs for so long. I wouldn't be surprised if it dropped even more. But prediction of such a chaotic system is impossible, so we'll have to just see what happens.

It is interesting how globalized our economy is now. A plunge in China translated into a plunge here almost immediately.

A GREAT book on the globalization of our world is: The World is Flat (only if you are into that sort of Read).

RIDE said:

A GREAT book on the globalization of our world is: The World is Flat (only if you are into that sort of Read).

Click to expand...

I'm into that sort of read. Is the book biased towards laissez-faire economic theory or socialist economic theory though, or is it just an unbiased look at globalization?

It's a somewhat unbiased look at globalization. The Author more so stresses the need for our youth to keep-up, and not fall behind as the world is becoming more of an even playing field for all. It's got some great insights and information. The Authors Website is HERE

A book review is HERE

If you read it, I'd be interested in your thoughts.

yes but the plunge here in the us and canada wasnt as bad it was like 3 % ish, i mean that is still alot in stock market terms but it was almost 10% in china. I will have to see what happened today, because yesterday everything was down and there were only a few stocks that went up

RIDE said:

A GREAT book on the globalization of our world is: The World is Flat (only if you are into that sort of Read).

Click to expand...

I actually read a few chapters of it, but then stopped for some reason. From what I read, it was really good. I plan on reading it at some point.