Market Features
The House of Representatives' rejection of a proposed $770 billion bailout of the financial industry sent the major averages plummeting Monday.
The Dow Jones Industrial Average fell 777.68 points, or 7%, to 10,365.45. The S&P 500 lost 106.59 points, or 8.8%, to 1106.42. The Nasdaq Composite dropped 199.61 points, or 9.1%, to 1983.73. For the Dow, it was the worst single-day point drop and its worst single-day percentage decline since Sept. 17, 2001. Each of the 500 stocks that make up the S&P 500 finished the day with losses, except for Campbell Soup(CPB). And for those throwing around the "D" word, depression, a rising soup stock seems only fitting. Here are some scenarios the markets now face, according to Jim Cramer: 1. worldwide economic collapse; 2. a depression that is a sequel equal to the Great Depression; 3. many, many more bank collapses than we have had already; and 4. much more unemployment and many, many foreclosures. "I still believe that they can pick up the pieces somehow, but I cannot hide my thoughts that we have an economic disaster on our hands and the only weapon we had created was the mortgage plan," Cramer wrote. So with this backdrop, we'd like to know where you think the Dow will finish this troubled year. Please vote in our poll below.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |


Connect with TheStreet