U.S Stock Market Hammered – Dow Loses 500 Points – Worst Slide Since September 2001

U.S Stock market falls, dow jones down 500 points, Lehman Brothers bankrupt

I’ve been out of the market since March 2008 and for a good reason. The subprime financial mess has far and wide reaching ripples effects which is now causing more and more problems for the financial markets.

Today, Lehman Brother files for bankruptcy and Merrill Lynch was forced to sell itself to Bank of America for $50 billion in stock, sending the U.S stock markets tumbling and investor confidence down with it.

Looking at the chart you can see that the Dow Jones Industrial Average is at or slightly below September 2001 level. At this level, is it a bargain? I really don’t know. For myself though, I think I will remain out of stock market until after the U.S election which happens in November of this year. I anticipate quite a bit of volatility for the next little while.

This entry was posted on Monday, September 15th, 2008 at 7:53 pm and is filed under Option Trading, Stock Trading, Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “U.S Stock Market Hammered – Dow Loses 500 Points – Worst Slide Since September 2001”

options trading says:

April 7, 2011 at 12:41 am

Thanks for adding your valuable information here. Really nice of you. Keep in touch and have a nice day ahead.
options trading