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Bloodbath on Wall Street

Posted by Richard on August 5, 2011

A few minutes before market close, the Dow is down over 450 points (nearly 4%) and the S&P 500 is down 55 points (over 4.25%). 

With apologies to Instapundit: They told us Tea Party people that if we opposed raising the debt ceiling the stock market would plummet … and they were right!

UPDATE: The Dow closed down 512 points (-4.31%) and the S&P 500 was down 60 (-4.78%). The broader Russell 3000 lost over 5%. And this evening comes news that Asian markets are tumbling.

ABC Nightline's Bill Weir had the line of the day: "President Obama picked a hell of a day to turn 50."

"As ye sow, so shall ye reap." 

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