This is the first video I've seen that purports to give insider info on this issue.Most interesting.
The Dow Jones industrial average (INDU) dropped 480 points, or 4.2%, after falling as much as 528 points. The S&P 500 (SPX) was down 54 points, or 4.5%; and the Nasdaq Composite (COMP) lost 126 points, or 5%.
All 30 members of the Dow were in the red, with Bank of America (BAC, Fortune 500) shares plunging 8%. Only three members of the S&P 500 were trading higher.
Investors had bad news hitting them from multiple fronts, including a dismal forecast from Morgan Stanley for global economic growth, and several economic reports that showed significant slowdown in the U.S. economy.
A gloomy report from Morgan Stanley renewed fears over a slowing global economic recovery. The investment bank slashed its global growth outlook for 2011 and 2012, adding that the United States and Europe are "hovering dangerously close to a recession."
Morgan Stanley cut GDP forecasts to 3.9% in 2011 and 3.8% in 2012, down from 4.2% and 4.5%, respectively. Growth will be particularly sluggish in developed nations, with GDP averaging an increase of 1.5%
New Hampshire, South Dakota and Indiana ranked at the top
It might be the ‘Land of the Free’, but some states certainly aren’t living up to the words of America’s national anthem.
New York, New Jersey and California are the least free in the U.S., based on an index of public policies affecting your individual freedoms.
The rankings are based economic, social and personal freedoms of Americans - and include measures such as taxes, government spending and regulations.
Land of the Free?