Market Really Wild; Yesterday Up o/300 pts; same conditions today & worried again

Late Slide Leaves Stocks in the Red
After a choppy session, indexes succumbed to selling pressure in Wednesday's final hour amid persistent worries about economic growth
Investing

Major U.S. stock indexes finished lower on Wednesday, giving back earlier gains as selling accelerated into the close. Persistent concerns about further bank woes, on writedowns by Bear Stearns Cos. (BSC) and HSBC Holdings (HBC), apparently trumped initial positive reactions to a raft of better-than-expected economic numbers. A rebound in oil prices was also likely partly to blame.

On Wednesday, the Dow Jones industrial average fell 83.16 points, or 0.62%, to 13,223.93. The broader S&P 500 index rose slid 10.47 points, or 0.71%, to 1,470.58. The tech-heavy Nasdaq composite index dropped 29.33 points, or 1.10%, to 2,644.32.

On the New York Stock Exchange, 20 stocks ended lower for every 12 that showed gains. NASDAQ breadth was 18-12 negative.

Through most of Wednesday's session, stocks had struggled for direction ahead of Thursday's consumer price index data, which is expected to be tame, and jobless claims, which should rise slightly, S&P MarketScope said. Investors are still worried the housing slump will drag the economy down and paid little attention to the innocuous PPI data, firm retail sales, and higher business inventories data.

In case no one noticed we have dropped from 15000 on the dow, to 13000 in a relatively short time

The talking heads have been trying to minimize the sub prime mortgage issues, along with the increase in forclosures

For over a year these same pushers have been saying oil was going to drop, etc. etc.

The truth is they don't know how bad or how much loss there really is because they cannot price the CDOs, and other instruments which have no market

The market has become a casino

Aren't you glad they want to privatize social security?