US markets have a big down day

@stealthy (8188)
United States
July 24, 2007 10:42pm CST
All three of the US indexes dropped significantely today(7-24-07) with the NASDAQ dropping almost 2%. Will there be a rebound in the next few days like has happened all the other times in recent months when there was a big drop? Or, has the subprime mortgage woes finally taken too big a bite from the economy? Some stocks that I follow that were down today usually did not drop(or dropped very little) in the previous big drops. So this may bean things are different this time.
1 person likes this
1 response
• United States
26 Jul 07
Stocks prices fluctuate but the subprime implosion is making an impact on the market to be sure. A few hedge funds lost most of their value and some are questioning several Wall St investment banks' floatability (including Bear Stearns).
@stealthy (8188)
• United States
27 Jul 07
And the credit problem is now creeping into the business arena like with Chrysler having problems getting financing.
1 person likes this
• Singapore
27 Jul 07
Hi : Yes, this would certainly create a double low to investment bankers companies like Lehman Brothers, Goldman Sachs, Bear Sterns who have exposure both to mortgage related business and as facilitator in investment dealership. Yours Truly, Tony Chai a disabled stock options trader http://options4u.blogspot.com
• United States
27 Jul 07
Yes, this is true. I heard yesterday that the Chrysler sale is in trouble due to financing difficulties. The current interest rates are climbing but keep in mind that the typical interest rate in China is 10% although the growth rate there is also much higher than the US economy growth rate.