9.17.2008

Holy shit, man.

Wall Street retreats as government bailout of insurer adds to bets that distress in the financial markets is far from over:

"Stocks tumbled Wednesday morning as the government's rescue of AIG and Barclay's purchase of some of bankrupt Lehman Brothers' operations underscored the weakness in financial markets.

Investors also focused on a report that showed construction of new homes fell to the lowest level in 17 years.

The Dow Jones industrial average (INDU) lost 200 points, or 1.8% roughly 30 minutes into the session. The Standard & Poor's 500 (SPX) index lost 2% and the Nasdaq composite (COMP) lost 1.8%.
"

Now I'm getting scared.

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