Wall Street sellers send stocks tumbling again

Posted By on October 15, 2008

google financeLong term investors and all who are saving for college or retirement through stocks or mutual funds are suffering yet again as the financial markets continue to slide. After a huge move up Monday, the trading on Wall Street headed down again, this time on gloomy economic warning from the U.S. Federal Reserve. After a optimistic Monday, the bad news sent the DJIA plummeting 733 points. The ‘fear’ over a slowing economy has spread world wide and the 2/3rds of American consumers that have been holding up the economy have finally bailed on spending. Companies that have been expecting a recovery due to the pumping of credit into the economy by world governments, are unfortunately now not even hoping for a decent 4th quarter. Even Fed Vice Chairman Donald Kohl after being confident that the efforts being made with ultimately be effective, he states that the drawn-out nature of the prospective adjustments in housing and financial markets will keep  the economy “subpar well into next year.”


Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
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