{"id":8795,"date":"2008-10-08T00:00:00","date_gmt":"2008-10-08T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"another-horrible-day-for-the-major-markets","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/another-horrible-day-for-the-major-markets.html","title":{"rendered":"Another horrible day for the major markets"},"content":{"rendered":"<p>The Times of Trenton &#8211; Stocks prices fell sharply again yesterday, ending the Standard &amp; Poor&#8217;s 500 Index below 1,000 for the first time since 2003 on speculation banks and real-estate companies are running short of money as the credit crisis worsens. <\/p>\n<p> Bank of America tumbled 26 percent after cutting its dividend in half and saying it plans to sell $10 billion in common stock to brace for a recession. Morgan Stanley, KeyCorp and JPMorgan Chase slid more than 10 percent as investors shrugged off signs the Federal Reserve will reduce interest rates. General Growth Properties, a mall owner, plunged 42 percent on concern it won&#8217;t be able to repay debt. <\/p>\n<p>&quot;We&#8217;ve approached the edge of the cliff,&quot; Leon Cooperman, 65, who manages $6 billion at hedge fund Omega Advisors, said at the Value Investing Congress in New York. &quot;Do we go over the cliff or begin to recede? History says we recede, but there&#8217;s no guarantee.&nbsp; <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.nj.com\/business\/times\/index.ssf?\/base\/business-5\/1223438742194400.xml&#038;coll=5\" title=\"Read Complete Article\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Times of Trenton &#8211; Stocks prices fell sharply again yesterday, ending the Standard &amp; Poor&#8217;s 500 Index below 1,000 for the first time since 2003 on speculation banks and real-estate companies are running short of money as the credit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[136,646,82,799,1002,410,419,79,229,81,133,2709,282,214,962],"class_list":["post-8795","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-allocations","tag-arthur-sulzberger","tag-bets","tag-bruce-kovner","tag-citadel","tag-currencies","tag-default-status","tag-eaton","tag-eton-park","tag-newcastle","tag-paul-touradji","tag-reshuffle","tag-shanghai-composite","tag-significant-numbers","tag-tse"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8795"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8795\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}