Dow Jones below 9000 – God kills a kitten
Oct 09
Business 10000, 9000, Below, Dow, Economy 1 Comment
In unexpected news, on Thursday October 9th, the Dow Jones Industrial Average dipped below 9000. This has come after a month of hell on Wall Street. I really don’t know what to think or say except ‘wow.’
A few months ago, some of my colleagues and I were half-heartedly joking about the DJIA dropping below 10,000. At the time, I figured that it wouldn’t happen, but as we draw further and further into this banking fiasco, nothing is unexpected anymore.
How low can the market go? Some “experts” are saying that the market could fall as low at 7000. What would this mean for the U.S. economy? nothing good.
U.S. Dollar vs Euro
What is even more weird is that even though the U.S. economy is in a vertical nose dive, the dollar is remaining particularly strong against the Euro. I guess the E.U. is just as screwed as we are.