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Dow Dives in Despair

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

The Dow Jones Industrial Average is down over 800 points since it high on april 30th.  Today's major market focus was not in Europe but instead in Southern California.  Marc Zuckerberg rang the opening bell on Wall Stree by remote control as he prepared to rake in billions of dollars in today's Faccebook initial public offering (IPO).  The offering price was set at $38. making it the largest IPO of all time.  The stock which had a high mark of $41,50 closed at $38.23.  All the hubbub was unrealized and the Dow skidded to a 73 point loss.

Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

At least for now, it looks like the market like the way Facebook was prices. Will you be a buyer?

May 18, 2012 08:10 PM