Wednesday August 10, 2011 – DOW Down 539, Gold Up $50!

August 10, 2011 – – The Carnage Continues in Equities: The DOW plummeted 539 points to 10,701. Gold shot up $50 to $1,792 and ounce. Crude Oil gained back $2.53 a barrel to close at $81.78. The NASDAQ dropped 101 points to 2,381 and the S&P 500 fell 52 points to 2,381. All three major U.S. Stock Indices were off between 4.09% and 4.80% on the day.
Fear of more financial trouble in Europe, a weakening U.S. economy, high unemployment and lack of consumer spending all contributed to another debacle on Wall Street. Gold breached $1,800 an ounce during the trading day. Can Great Depression II be that far away?
The Master of Disaster

About wfoster2011

Disaster researcher and current financial and economic news and events: Accidents, economics, financial, news, nature, volcanoes, floods, earthquakes, fires; airplane, ship & train wrecks; tornadoes, mine cave-ins, hurricanes, pestilence, blizzards, storms, tzuami's, explosions, pollution, famine; heat & cold waves; nuclear accidents, drought, stampedes and general. Futures trader using high volume and open interest futures markets. Also, a financial, weather and mundane astrologer with over 30 years of experience. Three University degrees from California State University Northridge: BS - Accounting MS - Busines Administration BA - Psychology Served in the U. S. Army as an Armored Platoon Leader in the 5th Battalion, 68th Armored Regiment, 8th Infantry Division (Retired). Have published three books and 36 articles available for sale through my blog: Commodology - Secret of Soyobeans (Financial Astrology) Timing is the Key (Financial Astrology) Scum City, a fiction novel (no longer available, under contract to major publisher) Currently resident of Las Vegas, NV, USA
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