Stocks dive on belief global recession is at hand
Friday October 24, 10:31 am ET
By Tim Paradis, AP Business Writer
Wall Street plunges on growing belief that severe global recession is at hand
NEW YORK (AP) – Wall Street joined world stock markets in a precipitous plunge Friday, with the Dow Jones industrials dropping more than 400 points in early trading and all the major indexes falling more than 4 percent. The growing belief that the world will suffer a punishing economic recession has investors furiously dumping stocks.
7’s here we come.
what I found great was oil production will slow down, to drive the price back up.
got this in an e-mail from my company’s hedge manager or whatever you’d call him when we were discussing this very issue. No one in the industry expects oil or NG to be going up in price any time soon. We could be back down to $30 a barrel within the next month. Of course, they also give it a 50/50 as to whether the economy completely collapses and we’re bartering livestock. So, it’s mixed news. Of course gas drops like a rock as soon as I get a company gas card and don’t have to pay for it anymore.
11:29 24Oct2008 RTRS-US MOTORISTS DRIVE RECORD 15 BLN MILES LESS IN AUGUST, DOWN 5.6 PCT FROM A YEAR AGO-US GOVT
