Six hundred and eighty four points down was the bottom ... so far. 6*8*4

Stinky The Clown

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Mon Sep-29-08 12:50 PM
Original message

Six hundred and eighty four points down was the bottom ... so far. 6*8*4

Wow.

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DemoRabbit

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Mon Sep-29-08 12:50 PM
Response to Original message

1. -701 was the bottom so far...

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JFN1

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Mon Sep-29-08 12:56 PM
Response to Reply #1

5. I saw that

-701.70 was the low point

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Subdivisions

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Mon Sep-29-08 01:30 PM
Response to Reply #5

10. Broke the 9/17/01 record drop. n/t

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opihimoimoi

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Mon Sep-29-08 02:29 PM
Response to Reply #1

12. 726 now

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corkhead

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Mon Sep-29-08 12:51 PM
Response to Original message

2. I thought there were "circuit breakers"?

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tridim

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Mon Sep-29-08 12:53 PM
Response to Reply #2

3. I think they already kicked in.

It would be down 1000 by now otherwise.

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davepc

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Mon Sep-29-08 12:59 PM
Response to Reply #3

6. no they havent

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tridim

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Mon Sep-29-08 01:04 PM
Response to Reply #6

7. How do you know it didn't hit 10%?

It was speeding towards a 1000 point drop and then it just stopped.

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davepc

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Mon Sep-29-08 01:13 PM
Response to Reply #7

8. because halting trading on the floor hasn't happend

Edited on Mon Sep-29-08 01:14 PM by davepc

http://www.nasdaqtrader.com/trader.aspx?id=CircuitBreaker

The Financial Industry Regulatory Authority, Inc. (FINRA) has agreed, upon the request of the Securities and Exchange Commission, to halt domestic trading in all NASDAQ� securities and all equity and equity-related OTC securities should the NYSE declare a market-wide trading halt, pursuant to their rules. NASDAQ and FINRA member firms should become familiar with the percentage-based, circuit-breaker standards and be prepared for trading halts in NASDAQ and OTC trading should the Dow Jones Industrial Average (the Dow) decline to the applicable trigger-point levels established by this rule.

The point-decline thresholds at which trading is halted change every quarter, so that those thresholds may accurately reflect the current market. The thresholds are percentage-based levels of 10%, 20%, and 30% declines in the Dow. The actual numerical points will be determined based on the state of the market each calendar quarter. For the third quarter of 2008, as shown in the table above, the thresholds are 1200-, 2400-, and 3600-point declines.

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tridim

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Mon Sep-29-08 01:29 PM
Response to Reply #8

9. The live feed I'm watching on MSNBC shows a bunch of brokers standing around, not trading.

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davepc

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Mon Sep-29-08 01:33 PM
Response to Reply #9

11. Well there you go. Some guys on TV don't look like they're working.

I guess they did suspend trading after all, and just didn't tell anybody about it. And all the reporters in, on, and around the trading floor haven't caught wind of that fact yet.

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davepc

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Mon Sep-29-08 12:55 PM
Response to Reply #2

4. they kick in at 10% 20% and 30% drops

with trading halted one hour on a 10% 2 hours on a 20% and the whole day on a 30%

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closeupready

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Mon Sep-29-08 02:30 PM
Response to Original message

13. The surprise drop in '87 was worse.

We survived and recovered.

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karynnj

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Mon Sep-29-08 02:36 PM
Response to Reply #13

14. Oddly, I still have the NYT from Oct 20, 1987

Not because of huge financial loss or interest, but because we saved the newspapers from the day each of our kids were born. That kid, a senior in college, called this morning to ask some questions on this collapse and the likely ramifications.

My concern is that the "fundamentals of the economy", contrary to McCain's words may be far worse.

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