Republican's Debt Deal Signals A Shrinking Economy And More Uncertainty - Dow Dives

Tweet

Just days after the Tea Party led-GOP authored a deal cutting trillions of dollars in active capital out of the U.S economy, the DOW responds with a a steep dive.

JSonline Stock market plunges as economic concerns deepen:
Stocks plunged Thursday in a broad sell-off fueled by worries about a weakening U.S. economy and concern that Europe's debt troubles may spread.

It was the worst day in financial markets since the crisis of 2008-'09.

The Nasdaq was down 5% on the day and the S&P 500 wasn't far behind, posting a loss around 4.75%. The Dow Jones industrial average lost more than 500 points - more than 4%.

"It's giving the appearance that the stock market is finally realizing that the economy is in a very slow growth mode," said Bruce Bittles, chief investment strategist at Robert W. Baird & Co.

Once the profit-takers clean up and count their booty, I'm sure the market will rebound as usual for a slow and steady (market) recovery. It always does, it has to in order to set up for the next wave of profit-taking.