Word: dow
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...famously warned that "the markets can remain irrational longer than you can remain solvent." Considering the recent volatility in stocks worldwide, irrationality appears to be the order of the day. Rarely have investors been so prone to bouts of panic selling, punctuated by spasms of equally frenzied buying. The Dow Jones Industrial Average index lost nearly a quarter of its value between Oct. 1 and Oct. 27, including an epic 700-point drop on Oct. 15. The carnage was followed on Oct. 28 by a 900-point rise, the second largest points gain on record...
...which has been the world's leader in carbon-cutting, some governments appear to be using the financial situation as an excuse to stand down. In March 2007, European Union members pledged to cut greenhouse-gas emissions 20% below 1990 levels by 2020 - but that was back when the Dow was 25% higher than it is today. Several European nations, including big industrial producers like Germany, are now saying the target is unrealistic, and at an E.U. summit on Oct. 16, some Eastern European countries, which are poorer and more dependent on fossil fuels than their neighbors, called...
...deal. Almost everybody was already expecting the half-point rate cut that the Fed delivered, and the actual federal-funds rate (as opposed to the target rate) has mostly been below 1% for the past three weeks anyway. The stock market's reaction? A yawn, as the Dow closed down 74 points...
...Down, Dow! Here's a reason to hope for a bad market close: From now through Dec. 19, the High Peaks Resort (800-755-5598), in Lake Placid, N.Y., is offering weekend rates tied to the Dow's closing. For example, if the Dow closes on Friday at 8,387, you can book a room that weekend...
...into fistfights. The New York Stock Exchange's board of governors considered closing the market, but decided against it, lest the move increase the panic. When the market closed at 3 p.m., more than 16.4 million shares had changed hands, using 15,000 miles of ticker tape paper. The Dow had dropped another...