Oil Fuels Dow Jones Panic


	Oil Fuels Dow Jones Panic

abailart

10-20-2007 2:40 AM

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tags:

dow jones, oil, kurdistan, finance, economics, credit defaults, debt

2 Comments |

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10-20-2007 10:27 AM

tabsey

We can call it the Greenspan Recession. (almost fits in with the global warming problem.)

10-20-2007 10:39 AM

cptenaud

And will the Republicans blame this on the Democrats?
Of course. They haven't taken responsibility for this war.
And there more then happy to turn this mess over to the Dems.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4b3e422d-d11c-45c1-819d-1316ff1c6924/BCC4A921-8F9D-4B42-ABA2-0C82D278B0A9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/20/cndow120.xml" href="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/20/cndow120.xml" style="font-size: 11px;">www.telegraph.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/20/cndow120.xml"><DIV>The Dow Jones plunged almost 370 points in a perfect storm of surging oil costs, a sliding dollar, and fresh fears of paralysis in the credit markets. </DIV><BR /><DIV>Twenty years to the day since Black Monday, when the Dow slumped 508 points in a day, Wall Street was rocked by rumours of defaults and heightened fears that the US economy may be heading for a recession. </DIV><BR />There were frantic scenes in the last hour of trading on Wall Street yesterday, as traders on the floor of the New York Stock Exchange fell over one another to place sell orders in all of America's biggest companies.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/20/cndow120.xml"><P class="story">On the currency markets, there was further pressure against the dollar, with the euro rising to a record $1.4318 against the greenback and the global dollar index plumbed fresh depths amid concerns that the worsening US housing slump will lead to an exodus of foreign investors.</P><P class="story"></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/20/cndow120.xml">Oil hit an all-time high of $90.02 a barrel on supply shortages and tensions on Turkey's border with Iraq </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/BCC4A921-8F9D-4B42-ABA2-0C82D278B0A9/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>