Stockhouse @ the Bell: Stocks sell off on gloomy global economic outlook

Today on Stockhouse

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Obama overhaul should provide better investor protection, explains Sy Harding.

Gold strike could benefit diamond explorer, notes AllPennyStocks.com.

Options investor betting on a range-bound Tyco, says Jud Pyle.

Thom Calandra discusses a lithium executive 'terminated' in a mysterious move.

Oil and gas rally one major event away, says Dr. Joe Duarte.

Gold ETF (GLD) upside reversal imminent, according to Mike Paulenoff.

For more articles on gold and silver, please visit the Stockhouse gold & silver feature supplement: https://www.stockhousefeatures.com/gold-and-silver/

Buzz on the Boards visited the Nortel Networks (TSX: T.NT, Stock Forum) and Victoria Gold Corp. (TSX: V.VIT, Stock Forum) Bullboards.

Top Bullboards post: “My take is that the run up in the Dow and S & P is over. The TSX is also going soft. My take is that we are going to go sideways on oil. Natural gas is in the toilet. Gold has also been dropping in price, partially do to a seasonal drop. Nevertheless, gold jrs are now getting financing and gold has held up really well[sic]”… - From mackvorkian on the Mediterranean Resources (TSX: T.MNR, Stock Forum) Bullboard.

Top Bullboard: The Appleton Exploration (TSX: V.AEX, Stock Forum) Bullboard ended the day with the most posts, followed closely by the Nortel Networks (TSX: T.NT, Stock Forum) and Noveko International (TSX: T.EKO, Stock Forum) Bullboards.

Top blog: Monday’s most read blogs included: Maysteeler23’s Thoughts, Notes From a Cyber Trader and Ghost Trader2.

For news about small stocks that made big moves in Monday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"While there is concern that investors have missed the substantive move in stocks geared towards the energy/industrial/commodity complex, we think that it is premature to worry and believe there is still meaningful outperformance potential," Tobias Levkovich, strategist at Citigroup told MarketWatch.

Today In The Markets

Global economic worries send stocks tumbling; TSX loses 4.4 per cent

DJIA	8,339.01	-200.72
NASDAQ	1,766.19	-61.28
S&P500	893.04	-28.19
S&P/TSX	9,834.18	-453.77
S&P/TSX Venture	1,078.66	-40.14

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TORONTO, NEW YORK (CP) - The Toronto stock market tumbled Monday as a report from the World Bank said the global economy will shrink much more than expected this year, lowering hopes for a strong economic recovery later in 2009.

The main S&P/TSX composite index dropped 453.77 points or 4.4 per cent to 9,834.18 - its first close below the 10,000 mark since May 11 and the worst one-day point loss since early December. The TSX Venture Exchange gave back 40.14 points to 1,078.66.

The Dow Jones industrial average fell 200.72 points to 8,339.01, after giving up almost three per cent last week. The Nasdaq composite index lost 61.28 points to 1,766.19, while the S&P 500 dropped 28.19 points to 893.04.

Please click here for the current U.S. and Canadian market summaries.

After-Hours News

Rambus (NASDAQ: RMBS)
After Monday’s close, the memory chip maker said it now expects second-quarter sales of $26.7 million to $27.2 million. Its previous estimate stood at $27 million to $30 million.

Timminco Limited (TSX: T.TIM)
The producer of solar grade silicon, after Monday’s closing bell, announced that it has resumed production of silicon metal at its Becancour Silicon facilities due to improved market conditions and demand for silicon metal from the chemical industry.