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Frightening to say the least leaving a lot of folks wondering what to do with their hard-earned retirement money. it was a dark day for the nation s finances. the s&p 500 shellacked, people, 6% in one day! panic mode, the dow plunges more than 600 points as investors react to the downgrade of the u.s. credit rating. don t panic! everything s fine. i m just down here looking for my emergency hobo satchel. i m joined by msnbc financial analyst vera gibbons and psychologist and nbc contributor jeff gardere. vera besides goingor the hobo satchel or starting a new career, what are people to do? this has been the most volatile week since 2008, remember that, you want to have a nice cash position, dividend ....
Back to hardball now for the sideshow. first up, leave it to stephen colbert to put a hilarious spin on the downgrade. watch as he prepare for the consequences. folks, there is nothing to worry about. on wall street, cooler heads always prevail. you can see the dow jones industrial down almost 300 points. we are down more than 400 points. the dow is now down 500 points. down nearly 600 points. it s down 631 points. wall street spending in another day what s described as freak-out mode. don t panic! everything s fine. i m just i m just down here looking for my emergency hobo satchel. okay. now, remember, folks, just remember, oh just remember over the long term stocks always increase in value. ....
these folks weren t rioting like we have seen the past several days. they were there to clean up. now the problem is that the violence, looting and arson has spread to sever other british cities besides london. also a nationwide manhunt for two brothers and their older sister accused much opening fire on a florida police officer, then robbing a georgia bank. you re seeing the three siblings there and authorities do consider them armed and extremely dangerous. all right. wall street did a bit of a u-turn yesterday and thank goodness it did. we don t know exactly what it s going to do today. but we are waiting to see. that is coming up for us in about 29 minutes from now. the dow closed up 429 points yesterday. however, that was a reversal of fortunes from monday s loss of 634 points. christine romans in new york for us. alison kosik at the new york stock exchange for us. christine, 29 minutes away. what is going to happen? reporter: futures are lower and alison can ....
Back to hardball now for the sideshow. first up, leave it 20 steve co-beco co-bear to put a citizen on the downgrade. watch as he prepare for the consequences. folks it is nothing to worry about. on wall street, cooler heads always prevail. you can see the dow jones industrial down almost 300 points. we down more than 4 hrn. the dow is now down 500 points. down nearly 600 points. it s down 631 points. wall street spending in another day what s described as freak-out mode. don t panic! everything s fine. i m just i m just down here looking for my emergency hobo satchel. ....