Slower sales forecasts from Wal-Mart and Cisco drive stock market lower; Dow down 225 points

  • Article by: MATTHEW CRAFT , Associated Press
  • Updated: August 15, 2013 - 5:22 PM

NEW YORK — Grim sales forecasts from two major companies and concern that the Federal Reserve will soon start withdrawing its support for the economy pummeled the stock market Thursday.

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outofworkerAug. 15, 13 4:25 PM

And then investors all realized that they have been duped by media hype and that the "hot" market was just another government induced bubble and "Bummer of Recovery" brought to you by the Obama Administration.

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theruntAug. 15, 13 7:47 PM

Wal-Mart says consumers might be spending less. They might spend more if companies like Wal-Mart would pay employees a decent wage.

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kilofoxAug. 15, 13 9:04 PM

Wait until the Fed stops pumping in 85 billion a month into the economy. Then the fun will start. Then we'll see how great the Obama economy really is.

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turgidAug. 15, 13 9:29 PM

Welcome to Wall Street, where Americans having jobs is bad news.

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Truckman182Aug. 15, 1311:13 PM

When QE 9 ends we are in a world of hurt. It will most surely be on a seems watch.

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u4775Aug. 16, 13 7:31 AM

There is an entire industry devoted to news "fitting". If you actually pay attention you will see plenty of "news" articles telling us why the market went down or up. You will see an equal number of articles telling how the market "shrugged off the news". See a pattern here? Yes, we have such a desire to know why something happened that we will accept anything to explain it. The real reason the market went down is that it is overextended to the upside and Wall Street types book their profits this time of year so they can concentrate on their families for summer vacation and back to school. The market will be back after a breather when it will be shrugging off the bad news again. Jobs will not be back until ObamaCare is settled one way or the other and companies actually have some idea of what their cost structure will be on medical insurance. Until then largely only part time jobs will be created if any.

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