Stocks slump on Wall Street, giving the Dow average its first three-day loss this year

  • Article by: MATTHEW CRAFT , AP Business Writer
  • Updated: June 12, 2013 - 10:42 PM

NEW YORK — The stock market ended lower Wednesday as traders looked ahead to a critical Federal Reserve meeting next week.

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herby2013Jun. 12, 13 5:13 PM

"When will the Fed and other central banks pull back their economic stimulus programs?" I and other posters on the Star Tribune comments have been saying for months (years in some cases) that the entire Obama economy is one big house of cards that will collapse. The Federal Reserve has been printing money and using it to buy securities which pushes interest rates down (to record lows) and inflates stock market values and other asset values such as housing (14% median sales price increase in one year is not normal). The PROFESSIONAL traders know what is going on and they are riding the wave up. They will be the FIRST ones to head for the exits when the CRASH inevitably comes--and they know it is coming. It's all a matter of timing. Stock market values will crash. There will be another foreclosure crisis. And it will soon be revealed that not as many jobs were created under Obama as originally thought. You see, nobody is going to invest in America to create jobs with Obama and the Democrats constantly scheming to steal money from those who earn it so they can give it to the welfare class to buy votes. More jobs have been created overseas by American companies since 2009 than in America. You have nobody but yourself to blame if you voted for Obama because all this was predicted.

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jd55604Jun. 12, 13 7:04 PM

The effects of the Fed's perpetually prescribed drug called QE3 are becoming less and less effective over time. It is the only thing keeping the markets afloat right now. If they pull the plug right now the economy will drastically contract and if they keep the spigot open they'll need to steadily increase the current $85 billion/month to unsustainable levels which will explode our debt and trigger massive inflation. We’ve painted ourselves into a very dark corner.

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