Friday, July 27, 2007

美國跌得好金 -_-"

10 點睇 DJ 跌百點.. 而家 12 點幾跌三百幾..
真係冇眼睇... 今日仲要入左隻 910@2.94...
話就話收見 3蚊... 不過老美跌成咁聽日都唔方好得去邊..

The Dow Falls 300 on Credit Concerns

Thursday July 26, 12:48 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street Plunges on Concerns About Credit Quality, Energy Prices, Taking Dow Down 300

NEW YORK (AP) -- Wall Street fell sharply Thursday, extending its weeks-long streak of volatility after disappointing home sales figures added to investors' increasing uneasiness about the mortgage and corporate lending markets. The Dow Jones industrials fell more than 300 points, while Treasury yields plunged as investors moved money from stocks to bonds.

Investors who had been able to shrug off concerns about subprime mortgage lending problems and a more difficult environment for corporate borrowing were clearly worried once again. Anxiety increased after the Commerce Department reported that sales of new homes fell 6.6 percent last month to a seasonally adjusted annual rate of 834,000 units, more than triple what had been expected and the largest percentage drop since sales fell by 12.7 percent in January.

Disappointing results from home builders including Pulte Homes Inc. and D.R. Horton Inc. -- squeezed by a sluggish environment from home sales and continued defaults in subprime loans -- weighed heavily on the market. Jitters also remain throughout the market that the number of private-equity deals -- a main driver of the market's record run -- might dry up because buyout shops are having difficulties accessing credit.

"Wall Street continues to walk a wall of worry," said Ryan Larson, a senior equity trader at Voyageur Asset Management. "The housing market continues to be a story, and nobody knows when it will rebound. But, the real concerns are about credit and oil pushing higher."

Thursday's trading was the latest in a series of frenetic sessions over the past month -- many accompanied by triple-digit swings in the Dow -- as investors sold on worries about the subprime fallout or bought on optimism that there wouldn't be any widespread problems caused by mortgage failures. Many analysts have described the back-and-forth trading as overwrought and based more on gut emotion than careful consideration of market and economic fundamentals.

Perhaps the clearest sign that investors had abandoned caution was a July 12 rally that hurtled the Dow up 283 points -- without any discernible catalyst and before Wall Street had had a chance to see the bulk of second-quarter earnings. When those earnings reports started flowing in, many turned out to be a sobering influence on the market, including news from Countrywide Financial Corp.

So, while the Dow passed 14,000 for the first time last week, investors obviously weren't feeling Thursday that such a lofty level was justified. In midday trading, the Dow plunged 314.67, or 2.28 percent, to 13,470.40.

Broader stock indicators were also sharply lower. The Standard & Poor's 500 index dropped 39.21, or 2.58 percent, to 1,478.88 and the Nasdaq composite index tumbled 68.56, or 2.59 percent, to 2,579.61.

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