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MONDAY, NOVEMBER 23, 2009
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 MARKET OPEN 
6

Global Selloff Rocks Dow

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(Newser) – The Dow tumbled 175 points at the open today, following even bigger selloffs in overseas markets, the Wall Street Journal reports. The S&P and Nasdaq each fell 2.2%. Those drops followed a whopping 5.8% dive on China’s Shanghai Composite Index, a 3.1% drop for Japan’s Nikkei, and 2% falls for the UK’s FTSE and Germany’s DAX. Freefalling commodity prices drove the negativity, with multiple Chinese metal companies taking the maximum 10% hits.

Trader David O'Day works on the floor of the New York Stock Exchange Thursday, July 16, 2009.
Trader David O'Day works on the floor of the New York Stock Exchange Thursday, July 16, 2009.   (AP Photo/Richard Drew)
Traders David O'Day, left center, and Richard Cohen, second from right, wait for the IPO of Starwood Properties to open on the floor of the New York Stock Exchange Wednesday, Aug. 12, 2009.
Traders David O'Day, left center, and Richard Cohen, second from right, wait for the IPO of Starwood Properties to open on the floor of the New York Stock Exchange Wednesday, Aug. 12, 2009.   (AP Photo/Richard Drew)
Trader Steven Marcus, left, works with colleagues on the floor of the New York Stock Exchange Wednesday, Aug. 12, 2009.
Trader Steven Marcus, left, works with colleagues on the floor of the New York Stock Exchange Wednesday, Aug. 12, 2009.   (AP Photo/Richard Drew)
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6 comments
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dontlikeyou
Aug 17, 09 9:19 AM CDT
Look at all the fools in the stock market, trusting their money to other fools who invest without any evidence that the investment is worth. And the poor sucker who loses his/her money, well, you are not the first and you will not be the last. Those who manipulate the market depend on people like you. Reply
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-7
dontlikeyou
Aug 17, 09 9:20 AM CDT
By the way, Mr. Obama, didn't you tell the American people that the recession is over? That little sound byte is going to play very well in 2010 during the election cycle. Reply
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-7
IN RESPONSE:
calkino
Aug 17, 09 10:31 AM CDT
so the market can't go down unless it's a recession? how's that house value of yours?
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+2
IN RESPONSE:
Corona_Kinq
Aug 17, 09 10:32 AM CDT
You're not familiar with how the stock market works are you dontlikeyou? The Dow has been going up quite a bit lately, now people want to cash in. Welcome to the ups and downs of the market. By the way the Dow is still up about 1100 points since Obama took office...so as usual, you don't have a point.
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+5
IN RESPONSE:
TRU2TM3
Aug 17, 09 2:35 PM CDT
Anyone who believes the world economy can be controlled or even influenced by the President is clearly a very, VERY poorly educated individual.
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+1

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