Wall Street down 2 percent on global debt concerns

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Wall Street down 2 percent on global debt concerns

November 22nd, 2011

FAKE NEWS for the Zionist agenda

Ryan Vlastelica
Reuters
November 21, 2011

U.S. stocks dropped about 2 percent on Monday, putting the SP on track for its fourth straight day of losses as concerns about heavy debt loads both domestically and abroad added uncertainty to a troubled market.

A U.S. congressional committee was expected to concede defeat in its bid to lower the deficit, renewing the debate over taxes and spending at a time when the impending expiration of payroll tax breaks and jobless benefits could help to undermine the economy.

The committee’s co-chairs will issue a statement later Monday, according to sources, declaring the committee was unable to reach a deficit-reduction deal because of deep divides over taxes and spending.

“There is now a lot of uncertainty over the prospects of extending the payroll tax cut or unemployment benefits. That’s important because those have been serving as a stimulus for the economy, and losing them would create a drag,” said Nick Sargen, chief investment officer at Fort Washington Investment Advisors in Cincinnati.

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2 Responses to “Wall Street down 2 percent on global debt concerns”

Politics, as usual. Both sides are more than willing to let the economy dump to get what they want-neither are willing to effectively negotiate. The so-called “super committee” knew going into the negotiations that they weren’t going to work effectively. Wait for the elections…….the citizens can suffer some more until then,,they’re used to it.

You people piss me off.
for it to only drop this much im guessing there are more rich useless lying greedy bastards than i thought