The DJIA - doesn't look good this morning. (1 Viewer)

[Patrick Sun]

The Dow Jones Industrial average is down almost 500 points as of 11 a.m. Whoa!
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[Michael Reuben]

You can't judge too much by what the Dow does in a morning, or even in a day. Warren Buffett, who knows a thing or two about investing, said yesterday that he wouldn't be selling today, but he'd be looking for buying opportunities. Looks like he may find some.
M.

 

[Allen Hirsch]

I'm not surprised.
The world markets were off ~5% initially last week; 500 pts is almost exactly 5% off the DJIA.
There was bound to be selling pressure early, since there's been 4 days (plus a weekend) of "lack of liquidity", and a traumatic event that would have caused a sell-off to some degree no matter when they re-opened.
It's actually encouraging that the Dow has rallied some - it was off >600 pts at first, then had stabilized at ~550, and has crept back since around 10:30am Eastern time. Big players like Buffett will no doubt be bargain hunters after the initial wave of selling is done.

 

[Edwin Pereyra]

Considering what has happened lately, a 5% is not a bad drop at all. Most of the drop is attributable to the airline, insurance and travel and leisure stocks. This is definitely a buying opportunity for some stocks as these prices are anything but permanent.
~Edwin
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[Cees Alons]

Compared to the fall on other markets the end of last week - that's certainly not bad!
In reply, in my country the Amsterdam index (AEX), gained considerably in the half our after the opening of Wallstreet.
And here's an important quote:

A USA TODAY/CNN/Gallup Poll taken Friday and Saturday found Americans' opinions about the economy improving sharply from a poll taken before last week's terrorist attacks. The new poll found 46% of respondents saying economic conditions are either good or excellent; before the attacks, 32% said that. The new poll found 53% of those surveyed saying conditions are fair or poor; in the earlier poll, the number was 68%.

Cees

 

[Travis Hedger]

@ 12:55PM CDT, down 658.31 points, down 6.85%
I hope this is only temporary!
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Travis -- "Contrary to popular belief, Travis Hedger, DID NOT infact invent DVD. He was just a very enthusiastic fan!!!"

 

[Patrick Sun]

Now it's down 717 points. We might lose 10% unless there's a major rally at the close of the ball. We're now under 9000 for the DJ.
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[Michael Reuben]

At the close, the Dow was down just over 7%, and the NASDAQ just under 7%. The S&P was down under 5%. Not a good day, but not a meltdown either.
The real miracle was that the market opened at all. On balance, I choose to view today as a triumph. (Tomorrow may be a different story.)
M.

 

[Edwin Pereyra]

(Tomorrow may be a different story.)

It sure is. 7% was not good but it could have been worse. For the day after, I would consider it reasonable. The next few days will be critical. It's possible that any US military action may not have been factored yet to today's decline. We'll see...
~Edwin

 

[Brian Perry]

Well, there is some potential good news on another financial front. Apparently there was a trading surge in UAL and AMR put options in the days just before the attacks. Merrill Lynch and Morgan Stanley are reporting that the volume in the AMR Oct 30 puts was twenty times the normal level. Perhaps there is a paper trail of insider trading prior to last Tuesday.
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[Iain Lambert]

Not to cause unwarranted alarm, and I don't want to drag the thread into topics that will get it closed but this article at The Register claims there are investigations into possible dodgy shorts just before tragedy as well, and there are concerns that perhaps the terrorists plan to profit from this disaster. Worrying if true, but perhaps this will aid in identifying them.