Stocks slide on Wall Street, extending sell-off from the day before, as gridlock fears return

  • Article by: STEVE ROTHWELL , Associated Press
  • Updated: November 8, 2012 - 9:11 PM

NEW YORK - Stocks slid on Wall Street Thursday, a day after the Dow Jones industrial average logged its biggest one-day drop of the year, as investors fretted about the potential for gridlock in Washington.

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ciamanNov. 8, 12 8:52 PM

Not one person wrote in about the giant loss in the stocks in two days? What does that say to potential investors? The answer is that most people left in the middle class will never buy stocks again. And the going point that people will have to buy new cars after they wear out their current cars is wrong. Yes, they may have to buy a used car after 11 or 12 years but they do not have to buy NEW CARS, folks. The cliff is coming like a roaring locomotion and no one can stop it from my view.

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vlombardyNov. 9, 12 7:38 AM

The top 1% of the country own 64% of all financial securities; 61% of all business equity; 35% of all stocks and mutual funds. The bottom 90% of the country own 19% of stocks and mutual funds, and 6% of financial assets--in total, the bottom 90% own just 12% of all investment assets in the country. So the problem is that wealth is concentrated in very few hands, a direct result of government policies that has encouraged the wealth transfer over the last 30 years. Now it's time for some payback by the owners of the wealth, if we are to survive economically. The alternative is for everyone, including the wealthy, to lose everything.

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