Stocks suffer for 2nd day down 929 points BUT...

United States
November 6, 2008 5:43pm CST
I have noticed that the media is conspicuously silence about it. Is this just because it was constantly in the news and therefore an excellent tool to use and discourage votes for the Republican party (McCain). Last week the TV media was breaking into the afternoon shows to inform everyone about the market losses. However today it does not seem to matter now the election is over. Am I the only one to notice this lack of interest? Stocks slumped for a second straight session Thursday, bringing the Dow's losses to 929 points since Election Day, as fears of a prolonged recession sent investors running for the exits. The Dow Jones industrial average (INDU) lost around 443 points, or 4.9%. The two-session decline of 929 points, or 9.7%, marked the biggest two-session point loss ever and the biggest two-session percentage decline in 21 years, according to Dow Jones. http://money.cnn.com/2008/11/06/markets/markets_newyork/index.htm
3 people like this
13 responses
@grammasnook (1877)
• United States
6 Nov 08
Heather darlin we have been hearing about the dow jones for the last month or so and we are all very aware that we are in recession. It was not good for the repubs when the economy began to plummit but democrats did not plan this to make the republics look bad. If you watch fox news it made a big thing about the markets being down. It depends on which station you watch I guess.
2 people like this
• United States
7 Nov 08
grammasnook darlin that we have been hearing about it all month is exactly my point. No-one who reads and understand English would even suggest that this discussion was blaming the the democrats for planning the stockmarket plunge. BTW I have just watched NBC and CBS and it was hardly mentioned!
1 person likes this
• United States
7 Nov 08
Fox News is our only conservative station so of course they mentioned it!
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• United States
7 Nov 08
icedventi You are absolutely correct!
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@missybal (4492)
• United States
7 Nov 08
I've been saying it all along. Watch and if Obama is elected the market will drop big time. I knew that investors would not have faith in this man. All the stock market players my father works with said that if Obama was elected they were going to get out of the markets because they knew it would be bad for the economy. Businesses fear what Obama may do with all he spoke about during his campaign. Who blames them. Then you talk about radical changes you are talking about high risks. But who would want to spoil Obama's party... You people who wanted change you are going to get it, but it won't be good! Do everything you can to save every penny and get ready to weather a terrible storm.
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• United States
7 Nov 08
I agree, hard times are ahead and regardless of who is president they will take quite some time to improve.
1 person likes this
• United States
7 Nov 08
Because of the writing that I do, I follow the international markets fairly closely. It's amused the heck out of me throughout this whole campaign how the US media - all of it, not just the mainstream - have tried to pin the movements of the Dow on politics, and on what the US president and legislature was doing while completely ignoring what was going on in the overseas markets. It doesn't take a genius to figure out that when the Japanese markets drop by 20% in the six-eight hours before the NYSE opens Monday morning (in response to European bank failures), the Dow is going to start down and head down - but the media talking heads didn't even mention the Nikkei or the European markets and bank closings. The truth is that the media is fickle. Stock market drops are no longer big news - but the ticker was still up in the corner on most stations, and it was mentioned. But it's not the big story anymore - instead, the big story is the transition and post-election analysis. It's not always a conspiracy.
• United States
7 Nov 08
I know it is not a conspiracy but it was used as big news to blame and discredit the Republican in the election issues. Now today IMO it is still very newsworthy but the media just wants to drool over the election results.
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@myklj999 (19778)
7 Nov 08
To be honest, I saw something yesterday about the stocks falling almost 500 points...but I didn't pay it much mind because I ignore most of that being as I live hand to mouth and day to day anyway. And they did link it to the election, at least on Yahoo news...
2 people like this
@crazydaisy (3899)
• Canada
8 Nov 08
I did not see anything about stocks going down I watch the election and that all. cd
1 person likes this
• United States
8 Nov 08
Crazy then you are about the only person on the planet that does not know that.
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@jend80 (2068)
8 Nov 08
yeah because people living and dying in real poverty over in the third world all give a toss
@kykidd (6819)
• United States
7 Nov 08
Funny thing you have started this discussion. I was thinking the same thing. I am sure it was because they wanted to discourage votes for Senator John McCain. And now, on the bottom of the screen, I see CNN says President Obama. Well, I'm sorry he is our President ELECT, but doesn't President George Bush still have a couple of months left in office. Lets wait until January 29th to call him President without the word elect. I believe the press gave Obama the biggest wet kiss any media has given any Presidential candidate ever. I wonder if they would have done the same for Hillary Clinton if she would have won the Democratic nominee vote. Probably so, I think they just wanted a Democrat in office. I hope the market does turn around, and consumer confidence picks up. But then again, that will just make Obama look good. LOL Thanks for starting this discussion, and have a great day!
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• United States
16 Nov 08
A decision is only as good as the information used to make it. I don't care how much you trust an adviser they are still only giving you the information they feel is relevant. Now a days there is what has been called information overload and it has to have a bearing on all walks of life including the President. This government is set up so that any decision the President has made has also been accepted by Congress, so can't blame the President alone. There is also the human factor you can't be right all the time nor can you please everyone all the time. Sometimes what feels right today is wrong two weeks from now, I can't blame any President for bad decisions, the political climate changes almost as fast as the weather.
@AmbiePam (50257)
• United States
7 Nov 08
I mentioned this to another mylotter yesterday. I don't understand. Obama became the President elect, which is pretty much what the whole world wanted to happen (the majority of the countries anyway). And the stocks took a horrible tumble. And yes, the media shuts up about it. America has a liberal media, but this is actual news. And it isn't as if someone is bashing Obama by drawing attention to this matter. It is something that I don't understand, and I'd like it if attention was drawn to this issue.
1 person likes this
• United States
7 Nov 08
Great response! My thoughts exactly.
2 people like this
• United States
7 Nov 08
Hmmm... you have a point about the media. Hype what's going on in the markets before the election but ignore it when it looks like a reaction to who won. On the other hand, stocks are going down for a few more months according to my analysis no matter who won the election.
1 person likes this
• United States
7 Nov 08
To you and me it is dishonesty, but to them it is only a not true alledged case of bias for Obama. The media fools even themselves.
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@icedventi (156)
• United States
6 Nov 08
We have a very liberal media so God forbid they say this drop is related to Obama's election. In past elections, the DOW's activity in the days following has indicated the public's opinion on what they think of the president elect's financial plans. So in this case, people are hiding their money out of fear. And I can't say I blame them.
1 person likes this
• United States
7 Nov 08
I closed all my brokerage accounts after the first day the market dropped I had a real bad feeling that there was not going to be a quick fix. I notice that Obama has already prepared the way by stating that the economy would probably take longer than his first term of 4 years to see any significant improvement.
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@Lakota12 (42684)
• United States
7 Nov 08
YEs I was seeiing it on the news. not all the time thu and they never did break in my shows guess I wasnt on any of the 3 main ones lol, My guess it they thought it would go up when Obama made it. as they gave him lots and lots of money now I think he needs to pay it back to be fair. What about you?
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@MsTickle (24994)
• Australia
8 Nov 08
And just what does all that mean whiteheather. There are a few key words that I understand.....e.g. we are in a recession and the economy is in a worst state than it was in the great Depression. The indexes and points loss mean nothing to me I'm afraid. I hear that the Australian economy is in a better state than the rest of the world but I think it's only a matter of time before the rest of the world brings us down as well. Our banks are incredibly greedy for a start and that keeps us on our toes while the battlers go down for the count
• United States
8 Nov 08
For me personally it mean that I lost $800.00 the first Monday it started crashing and by the end of the week it was up to $2,200.00. I immediately closed my IRA aand regular brokerage accounts. So did millions of other people which means stocks just keep falling and falling as most perople are selling and getting out of the stockmarket.
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@MsTickle (24994)
• Australia
8 Nov 08
I was just reading some of the other responses on this page...is it possible that this hasn't figured in your news broadcasts due to the election hype?? We are all glued to the news media for news on this issue....it's world wide and critical.
• United States
7 Nov 08
The media is in love with Obama. He is smooth and easy to get on camera so they love him. Unfortunately they will find out that he has little real substance. He has a lot of big ideas with no foreseeable way to put them into action. The media being fickle will be panning him it a very short time. I don't think it will be too far down the line and something will happen to burst this little bubble and I'm sure Obama will be very shocked. Things are in a tailspin already and I don't think there is anything that can be done. Things are going to get a lot worse before they get better and I will be very interested to hear how Obama explains that one.
• United States
7 Nov 08
So right ('Bama you got some splainin to do!)
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@suspenseful (40316)
• Canada
8 Nov 08
Of course the media would be silent. They cannot blame it on the Republicans anymore and they certainly do not want to blame their demigod, Obama and his minions because he can do no wrong. The market is generated by the buyers and sellers and they know enough to realize that the Democrats were the wrong party to lead America and this election was won on race rather then expertise. Watch for further drops as they figure out how much Obama's promises are going to cost them.