I know that title sounds a little alarmist and ridiculous, but you have to wonder...
http://money.cnn.com/2008/10/24/mark...ion=2008102406
The most worrying out of that report is:
"U.S. stocks joined a worldwide selloff at Friday's open, with the Dow down about 400 points, as a wave of anxiety about a global recession sent investors heading for the exits."
"Today might be the day where everybody throws in the towel," said Peter Cardillo, chief market economist for Avalon Partners. "People are saying 'I've had it, I can't take it anymore, I'm selling everything."
"Markets were so jittery early Friday that the New York Stock Exchange felt it was necessary to post a statement on its blog confirming that trading would open as normal at 9:30 a.m. ET, saying it felt it was necessary to answer widespread rumors that the open would be delayed."
The NYSE also posted updated details of so-called circuit breakers, which would halt trading for certain periods of time if the Dow Jones industrial average falls 1,100 points during the trading day. It said it was posting that information with "the fervent hope we won't need them."
Today will be very interesting day and I am curious as to what the next week or so has in store for us.
Will the Economic Crisis, both local and worldwide, be enough to freeze not only the market but the 2008 Elections as well?
I believe this year will mark historic firsts in more ways the one...