Tuesday, February 27, 2007

Dow Plunges 415.02 Points - Will U.S. Congress Stop Bush's Wars Now?

Another Leg Drops Out of the U.S. Economy as Stocks Fall on Weak Economic Data, Geopolitical Woes, Shanghai Tumble

With housing slowing down, retail sales not great, and a Fed that has been worried about inflation and raising interest rates when it should be lowering them, a recession isn't far behind. The WSJ reports:
Stocks plummeted Tuesday, with the Dow down as much as 545 after a nearly instantaneous drop of about 200 points right around 3 p.m. Eastern time, but then recovering some of the losses. Indexes declined amid a broad selloff encouraged by a confluence of factors including weakness on the Shanghai market, disappointing durable-goods data and uncertainty increased about Iran and Afghanistan.

Will the Fed lower interest rates when it next meets (March 20/21, 2007)?

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