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THURSDAY, NOVEMBER 26, 2009
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 MARKET OPEN 
2

Stocks Can't Stop Bleeding

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(Newser) – Stocks continued their march downward at the open today, following a wave of selloffs around the globe. The Dow dropped 136 points, after closing at a six-year low yesterday. The S&P plunged 1.8%, while the Nasdaq was off 1.1%. Yesterday’s US losses triggered a wave of global selling, with the FTSE 100 down 2.6%, the Dow Jones Stoxx 50 down more than 3%, and Japan’s Topix hitting a 20-year low.

“It is difficult to know whether the latest falls are another move to a new bear phase or just a clear out of weakly held speculative longs built up over the last few months,” said one analyst. “It has been reasonably simple for traders to deal with the price ranges for the recent weeks and months, and this latest move might just be a lesson to these speculators that making money is not [and never will be] this easy."

Traders work on the floor of the New York Stock Exchange Friday, Jan. 30, 2009.
Traders work on the floor of the New York Stock Exchange Friday, Jan. 30, 2009.   (AP Photo/Richard Drew)
Banc of America specialist Douglas Johnson points to an overhead monitor on the floor of the New York Stock Exchange Wednesday, Feb. 18, 2009, in New York.
Banc of America specialist Douglas Johnson points to an overhead monitor on the floor of the New York Stock Exchange Wednesday, Feb. 18, 2009, in New York.   (AP Photo/Henny Ray Abrams)
Geoffrey Friedman of Barclays Capital leans on his trading post on the floor of the New York Stock Exchange, Tuesday, Feb. 17, 2009 in New York.
Geoffrey Friedman of Barclays Capital leans on his trading post on the floor of the New York Stock Exchange, Tuesday, Feb. 17, 2009 in New York.   (AP Photo/Henny Ray Abrams)
Bank of America specialists work on the floor of the New York Stock Exchange, Tuesday, Feb. 10, 2009.
Bank of America specialists work on the floor of the New York Stock Exchange, Tuesday, Feb. 10, 2009.   (AP Photo/Richard Drew)
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preprower22
Feb 20, 09 9:24 AM CST
6000 here we come? Reply
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bacimom
Feb 20, 09 4:30 PM CST
It's time to consider closing the market temporarily. They've done it in other countries. Anytime the market creeps up a little they hurry and sell off for any profit they may have made. Then they buy low and the whole cycle begins again. They are a self-fulfilling prophecy Reply
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