Stocks plunge to 5-1/2 yr low

Nov 19 - The Dow dropped below 9,000 for the first time since March 2003 as the threat of bankruptcy in the auto sector added to fears of an extensive economic slowdown.Blue chips tumbled 427 points, down 5 percent, to 7,997. The S&P 500 lost 52 points, or 6.1 percent, to 806. The Nasdaq shed 96 points, or 6.5 percent, to 1,386.

Crude oil prices fell to $53.62 a barrel.
Conway Gittens reports from New York.

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[isegoria1]

That is what they get for screwing us out of viable electric cars that they produced in ultra limited numbers more than a decade ago.

Remember the EV1? I do

[bboucharde]

Reuters,

You typed: "Nov 19 - The Dow dropped below 9,000 for the first time since March 2003..."

You meant 8,000.

bb

[animeandy2153]

informative video, but some kind of computer program or group of trained profesionals must have seen this coming. we have to consume less and get smart.

[patrick31031976]

Nice

[jvmalum]

They will capter 11, and then they'll reorganize and be back. Those guys are so crying the blues, OH! were gonna die and so will the United States of America if you don't give us 25,000.000.000.00. They would say/lie absolutely anything to get their hands on/steal all that money from the tax payers. I'll say this for them, they recognize opportunity when they see it. Greed is soooooo good at that. Theres only so many cars to made, and someone will make them here in the U.S., doesn't matter who.

[nanabonniez]

isegoria1, good thought about the gold.Very thought provoking. We actually moved out of California two months ago and came back to a small town of 500 in the N.W. corner of Montana. Hunkered down to wait all of this insanity out. Buying canned goods by the case lot and lots of bottled water. Garden in the spring.I have never been one to stockpile and be paranoid but sold my car and got rid of the "stuff". In a good place right now to weather out the storm. We shall see.

[isegoria1]

That is way smart. Healthier and responsible. As a person who used to have a garden I do know the rat race kills off the garden so to speak. This is no accident, it is well planned to keep people dependent on the system.

[isegoria1]

Some how I knew way back when they were giving insane sized tax breaks to businesses (I Think it was 50K) for buying these gas hogs it was a trap. So many fell in it.

I think the same thing is happening with the gold that is why we see all of the tv infomercials begging for your unwanted or unused gold. Before people say BS - Why would they be buying gold at record rates from the private sector if gold is supposedly at its highest price?

[nanabonniez]

Right on isegoria1! I pray the automakes do not get a baleout. They need to file bankruptcy and regroup and learn a lesson. Arrogance brought them to this. They have had 20 years to compete with the Japanese car makers, etc or get an electric or propane car out there for us. NOOOO they just keep making SUVs and huge pickups.

[JackNeedles]

The Dow WILL easily hit 6000 and oil 45 bucks soon.