Sept. 19, 2011, 9:38 a.m. EDT
U.S. stocks crater at open on Greek worries
By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- U.S. stocks opened deeply lower Monday, on track for the first down day in six, weighed by indications Greece was on the brink of default. The Dow Jones Industrial Average tumbled 165 points, or 1.4%, to 11,440. The S&P 500, to 1,199. The Nasdaq Composite fell 24 points, or 1.6%, to 2,580. Over the weekend, the cabinet of Greek Prime Minister George Papandreou met to discuss concerns over the nation's ability to meet fiscal targets as international lenders withheld the next disbursement of aid until Greece comes up with a credible deficit-cutting plan. Treasurys and gold gained. "A Greek default looks to be imminent and the markets seem to be bracing for the event," noted Gluskin Sheff chief economist and strategist David Rosenberg.
http://www.marketwatch.com/story/us-stocks-crater-at-open-on-greek-worries-2011-09-19
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
| 