all aboard for the wall st crisis tour
Last Updated : GMT 20:41:34
Arab Today, arab today
Arab Today, arab today

All aboard for the Wall St crisis tour!

Arab Today, arab today

Arab Today, arab today All aboard for the Wall St crisis tour!

Washington - AFP

Roll up, roll up for the Wall Street crisis tour! US economic turmoil has been good for some at least. Tourists in New York are enjoying The Wall Street Experience, where they peer right into the troubled heart of the country's financial system. "And the building right there in front of you is... Standard and Poor's!" said walking guide James Mosiej on a day when the main indexes plunged on news that S&P had cut its long-term debt rating for the United States. About 20 tourists following Mosiej listened attentively. "It's a big day in Wall Street, you can see," he said, gesturing to the forest of television cameras outside the New York Stock Exchange, where trading was frenzied. It was also an apt time to join the tour, www.thewallstreetexperience.com, created by Andrew Luan, an ex-trader and former vice president Deutsche Bank. "Today is a good day to be here. The markets are going down 300 points or so," Jeff Brandt, 38, a salesman, noted, speaking before the Dow Jones index fell even further. "I have a general interest of how the financial markets work, why they failed in 2008," he said. Over two hours, Mosiej, a one-time employee of Goldman Sachs, led the group past the buildings behind some of the world's top news stories. The tour included a history lesson and description of some of the original US tycoons, such as John Piermont Morgan, founder of the bank JP Morgan. The group then traipsed past the headquarters of AIG, the insurance behemoth whose collapse was at the core of the 2008 financial meltdown, and the former headquarters of the now defunct Lehman Brothers. "History keeps repeating itself over and over again," Mosiej said. Mosiej was a mine of unusual information, including pointing out that skyscraper construction -- whether in New York in the 1930s, or the 1970s across the United States or the 1990s in Southeast Asia -- has often coincided with economic troubles. And he also had a tip for the tourists, or perhaps also for the traders working inside the buildings: "Always buy when the world seems to go to a disaster. When everything is good, sell." Monday was a bloodbath on the markets. The Dow was down 5.6 percent to finish at 10,809.85, its lowest close since last October. It was the steepest one-day drop in point terms since the financial crisis of 2008. The broader S&P 500 fell 6.7 percent to 1,119.46, while the tech-heavy Nasdaq dropped 6.9 percent to 2,357.69. World equities also plunged and gold topped $1,700 for the first time, as investors eyed the prospect of a sharp global downturn and shrugged off international efforts to resolve sovereign debt woes. Frankfurt closed down by more than 5.0 percent, Paris was down by 4.7 percent, and London dived by nearly 3.4 percent, following heavy US losses as Wall Street reacted to Washington's loss of the top AAA credit rating.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

all aboard for the wall st crisis tour all aboard for the wall st crisis tour

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

all aboard for the wall st crisis tour all aboard for the wall st crisis tour

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday