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Why is the stock market down ?

By James Wexler

Real Estate Agent with wexzilla.com

February 12, 2009 01:16 AM

I am confused. That in itself is not surprising. However, today it is more than ever.

I get news headlines on my phone (yes, more distraction from my family ) and today we had what I thought were good news headlines.

Yet, when I turned on my computer, the stock market was down 200 points.

U.S. retail sales unexpectedly up 1 percent-
U.S. jobless claims dip but by less than expected
Economic stimulus package on track for final votes-
Oil slips below $36 as inventories rise

Even news on the Housing market was (somewhat) positive. Though, I am always hesitant to use that word when it comes to real estate market.

Foreclosures were up year over year but slowed at a much greater rate than expected.

Can any explain why the sky is falling in today ?

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Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

My understanding is that wall street hates the 3 $T stimulus plan. Other than that, your facts would support a rally, not a sale.

Feb 12, 2009 01:19 AM

Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula

Realty Works Temecula - Temecula, CA

Realty Works Temecula

James: I agree with Larry, I was just going to say the same thing and his comment came up. It has to be the uncertainty of what the results will be from the Stimulus Plan. There are too many unanswered questions about it. The mere media spread where Obama gave that lady who could have been a "plant" free rent for "as long as she needs it" is a tell tale sign that there is no consistency to the plan. What about the guy here in Carson, California who needs help and was so desperate that he wrote on his house?

Feb 12, 2009 01:24 AM

Norma Toering Broker for Palos Verdes and Beach Cities

Charlemagne International Properties - Rancho Palos Verdes, CA

Palos Verdes Luxury Homes in L.A.

Wall Street likes to see an established trend, and right now most sectors are so volatile the safest reaction is retraction.

Feb 12, 2009 01:29 AM

Eric Murrietta

Homeowners Financial Group USA, LLC - Scottsdale, AZ

Mr. Market is made up of feelings and whims, not facts. Therefore, there must be a specific amount of gloom throughout Wall Street that is turning the market the opposite way. I think it may have a bunch to do with the dislike for the stimulus plan as well.

Feb 12, 2009 01:37 AM

Jason Mitchell

Realty Executives - Scottsdale, AZ

there is a clear mentality that even good news is really not good news looking forward so people sell and dig their heads in the sand

Feb 12, 2009 01:56 AM

Anonymous

Wall Street Joe

first of all, there is no rhyme of reason right now to any of our economic markets, real estate was good, now its bad, stocks were good , now bad, oil was expensive, now its cheap, etc... etc.... etc.....

Feb 12, 2009 02:02 AM

Mary Douglas

United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO

REALTOR, Red Feather Lakes, Colorado

Hi James, I had to stop in to see the comments-- because I don't understand it either! :-)

Feb 12, 2009 03:09 AM

Why is the stock market down ?

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