AirTalk®

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As pessimism rises, stocks fall

by AirTalk®

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Traders work on the floor of the New York Stock Exchange. Andrew Burton/Getty Images

The Dow Jones plunged 353 points this morning in direct response to the increasing economic cynicism of investors around the world. At midday, the Dow is down 2.9% overall, with Nasdaq down 3.4%. European markets are feeling the effects of debt problems in Italy and Spain, as stocks are currently down 2%. Earlier today, the Labor Department reported a slight decrease in unemployment applications this week, but economists predict this is simply a stall and will not improve. Investors are selling off their portfolios before the week comes to a close and focusing on gold, Treasury bonds and reliable foreign currencies to protect their wealth. Is this the beginning of a drastic drop in the market? What will it take to get back on the upswing? What are you doing to protect your stocks and investments?

Guest:

Joanna Ossinger, Stocks Editor for Bloomberg News

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