Or at least just the party in Wall Street's pants.
The shopping mall is not the only place where prices are falling. Stocks tumbled yesterday in their steepest slide since July, after a weak sales estimate by Wal-Mart spurred concerns about the holiday shopping season and fed broader worries about a slowing economy.The sell-off on Wall Street spoiled what had largely been a steady run-up in stock prices in recent weeks. In the last month and a half, the Dow Jones industrial average broke through 12,000 for the first time, and the broader Standard & Poor’s 500-stock index rose to its highest level in six years.
Stocks Drop Steeply After a Bull Run [NYT]
Posted by chicken little , Nov 28, 2006 2:38PM
is it too early to officially announce that Wal-mart has "ruined Christmas for everybody?"
Posted by They Call Me Tubbs , Nov 28, 2006 3:23PM
I don't know anyone who shops at Wal-Mart. Do you? Hell, I don't even know where I could even find the nearest Wal- Mart!
Still, the prospect of tens of millions of fat, lazy, stupid, American consumers being deprived of their cheap made-in-China items this Christmas makes my cold Wall Street heart just a tad warmer.