Wall Street Stumbles
Jan.22, 2008 in
cost of living, economy
The New York Stock Exchange took a stumble this morning to the tune of almost 500 points. Enough in fact to get the Fed’s to lower interest rates .75% in an “emergency” meeting.
The markets have leveled off for the most part, with even a few heavy gainers including Lowes and Home Depot. Could speculation be that the new lower prime interest rates will spark a small housing boom?
I don’t know, that’s just my guess. But I do love the falling rates though. Borrowing money can never get cheap enough in my books!
January 22nd, 2008 at 7:42 pm
Just to clarify – because it does make a difference – the Feds dropped the rate before the markets opened.
But yes, cheap money is good. Of course, offset that by watching my 401K drop by 14% and I have a hollow feeling in my stomach 🙂
January 22nd, 2008 at 10:04 pm
Good catch Rob. It was kinda crazy around here this morning and didn’t notice that the rate decrease came out before the markets opened. I guess that is what happens when you listen to the office gossip and take that for fact.