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Stock Mkt plunges on low housing and sub-prime mtgs
Posted by  Charles_Ca of CA on 7/26/07 6:46pm Msg #202092
Today. the AP ran this syndicated story:

NEW YORK - Wall Street suffered one of its worst losses of 2007 Thursday, leading a global stock market plunge as investors succumbed to months of worry about the mortgage and corporate lending markets. The Dow Jones industrials closed down more than 310 points after earlier skidding nearly 450.

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Investors who had been able for months to largely shrug off discomfort about subprime mortgage problems and a more difficult environment for corporate borrowing finally decided it was time to sell after the Commerce Department issued another disappointing home sales report.

Feeding the plunge were concerns that higher corporate borrowing costs will curb the rapid pace of takeovers that had driven stocks higher this year. Investors also feared the sluggish environment for home sales and continued defaults in subprime loans would spur debt defaults and weigh on corporate earnings.

I wonder where all the recent NNA graduates will make their $100K this year. I predict that the housing market will not turn around until 2009.
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Messages in this Thread
 Stock Mkt plunges on low housing and sub-prime mtgs -  Charles_Ca on 7/26/07 6:46pm
 Re: Stock Mkt plunges on low housing and sub-prime mtgs -  John_NorCal on 7/26/07 7:49pm
 Re: Stock Mkt plunges on low housing and sub-prime mtgs - JanetK_CA on 7/26/07 7:57pm
 John/Janet, I don't want to provoke a political discussion.. -  Charles_Ca on 7/26/07 8:45pm
 Re: 2009, yikes, are we eligible for foodstamps n/m - JohnnyB on 7/26/07 8:56pm
 No safety net for you! Welcome to the world of the ... -  Charles_Ca on 7/26/07 9:08pm
 Re: No safety net for you! Welcome to the world of the ... - Teddog/CO on 7/27/07 10:22am
 Saving the sub-primes - CJ on 7/27/07 11:18am



 
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