Dow Suffers Surreal Drop, Ends Down 350The stock market sent shock waves through the world economy on Wednesday, falling nearly 1000 points in the early afternoon in a spastic move that was partly reversed within an hour or so of the initial drop. Most startling, seven hundred points of the drop happened in just 15 minutes, leading many to conclude that high frequency trading was behind the selling. More than 2 billion shares traded by the time the market closed at about 10,518, down 350 points.The shock of the Dow's drop was only outdone by some single stock horror stories. CNBC reported that Accenture shares went from $40 to one cent before bouncing back. Proctor & Gamble went $60 to $40 on the NASDAQ, but not on the NYSE where it never got below $56 due to speed bumps that prevent such free falls. ...
_________________SI Moderator - Greg Gordon
Could be we are about to find out if all our wealth in America was truly a blessing or in fact a distraction. Surely, that which can be shaken will be shaken. I just learned that my hours will be cut back to 30 hours a weeks for a while. My wife and I had just made the decision that she would stay home with the kids after the school year (she's a teacher). That put's a serious kink in our plan, but we'll not back off our commitment to what God has designed for the home. My employer is not my source. Seek first the Kingdom of God and all these things will be added unto you. *Take it all Lord if it means a revival of Your church. Revive us, move us, mold us, make us a pure bride.*
America supposes she is prosperous and needsnothing!! She knows not how blind, miserable,poor, and wretched she is without the richesof GOD'S grace and mercies!!
_________________Martin G. Smith