Dow Drops More Than 500 Points

[mlmpetert]

Yeah i think markets were really looking for a debt deal with around 4 trillion in cuts, not a 1.2 trillion deal without any revenue increases or entitlement reform. S&P is prob gonna downgrade us debt within the next 6 months, moodys might too. That combined with recent poor earnings and economic data makes for bad markets, and in this case real bad. I think qe3 is probably more of the boost to stock markets, a weak dollar and easy money is usually a positive to equities.