Bad for business
Dow down 270 during the christmas shopping season probably more than offsets any salutary effect from ower gas prices. Torture doesn't do a lot for the sicial mood either.
Let's have 'er out, Dow 3000. Justice, even if the world falls down.
Re: Bad for business
It`s kind of funny actually. About 10-12 yrs ago they (me included) thought if gas rose to $2 it would kill the economy, now we worry that if gas falls to $2 it will "kill the economy".
It seemed when this country still had factories, the cheap fuel kept things going. Now with a more "service based" economy, cheap fuel for some reason is seen as more of a drag than a boost.
If the Dow drops, the fed will have an excuse to implement QE-IV. The Dow is all they got, even if the economic activity is mostly companies buying their own stock and the "plunge team" buying.