posted January 20, 2009 05:09 PM
Today, the Dow Jones Industrial Averages closed DOWN $332; NASDAQ DOWN $88; S&P 500 DOWN $45Bloomberg News headline 1
U.S. Stocks Slide to Worst Inauguration Day Drop in Dow Industrial History
Bloomberg News headline 2
Worst Dow Drop Since Election
"Jan. 20 (Bloomberg) -- The Dow Jones Industrial Average fell 14 percent between Barack Obama’s election and Inauguration Day, the biggest decline ever."
"The CHART OF THE DAY compares the Dow’s retreat since Nov. 4 with the 13 percent slide between Franklin D. Roosevelt’s election and his inauguration on March 4, 1933."
http://bloomberg.com/
The people who move these markets are mutual fund managers, pension fund managers, hedge fund managers and large private investors..all of whom routinely trade stocks in 50,000 share lots or more. These are not chair warming economic theorists but rather down in the trenches hard headed realists who manage trillions of dollars for their clients...or their own money.
One can surmise they believe Barack Hussein O'Bomber when he says he's going to raise taxes on business, raise capital gains taxes, let the Bush Tax Cuts expire, bankrupt the coal industry, skyrocket energy prices, food prices and virtually everything else...and provide the kind of leadership which will destroy the economy of America and bring on and extend a depression....just like FDR, another Socialist and so called "Progressive".
Lindaland
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posted January 20, 2009 05:09 PM
posted January 20, 2009 05:38 PM