Wall Street trips and falls on cloudy Italian election

Comments (5)
Harry079 wrote:

“The major trend is that indexes will keep moving higher, a reflection that the economy continues to grow at a moderate pace”

I wonder what that trend would be if the Fed & Treasury pulled the $85 BILLION a month of borrowed taxpayer money to support those indexes?

There wasn’t even a mention of the Feds QE programs in this story and you folks at Reuters should be ashamed.

Someday you media types will actually get a clue.

Then again maybe not.

Feb 25, 2013 10:20am EST  --  Report as abuse
Harry079 wrote:

Up 70 points this morning.

Reuters says: “A reflection that the economy continues to grow”

Noon down 60 points.

Reuters says: “It’s Italy’s fault.”

Well what happened to the growing economy?

Did Italy steal it?

Feb 25, 2013 12:09pm EST  --  Report as abuse
mountainrose wrote:

Watched the Dow go up 38 pts then drop 150 cause of the results of an Italian election and not one pundit, expert or writer ever bothers explaining the correlation. Hint financials led the way down today just like in 08

Feb 25, 2013 4:24pm EST  --  Report as abuse
Willie12345 wrote:

Obama has got everyone scared about the funding cuts. Shame on him.

Feb 25, 2013 4:53pm EST  --  Report as abuse
MikeBarnett wrote:

Italy voted for one house to be run by the government’s party and another house to be run by the opposition’s party. It sounds like US voters elected Italy’s parliament. Of course, both countries could make the same mistake. In addition, Italy’s GDP for 2012 fell 2.3%, so Rome does not need stalemate. The article points out that banks and financial stocks led the retreat because they have an indecent exposure to Italy’s national debt. US brokers fear a change from “austerity programs,” but I don’t know how a country can “poverty its way into prosperity.” China has construction programs that provide jobs with paychecks so workers can become customers and taxpayers. It works, but the West doesn’t like to give China credit for anything. I have come to believe in “one world, many systems,” and time will reveal the strategy that creates the most wealth.

Feb 25, 2013 6:33pm EST  --  Report as abuse
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