Tuesday, January 20, 2009

The "Obama Bounce" falls a little flat

Headlined Markets Have Record Slide For Obama Inauguration:

Wall Street ushered in the Barack Obama presidency with a record Inauguration Day slide Tuesday amid fresh signs the global bank crisis was far from over.

An index of bank stocks lost 19.7 percent on fears of more losses. The Dow Jones industrial average fell 332.13 points, or 4.01 percent, to end unofficially at 7,949.09. The S&P 500 Index slid 44.90 points, or 5.28 percent, to finish unofficially at 805.22.

The Nasdaq Composite Index tumbled 88.47 points, or 5.78 percent, to close unofficially at 1,440.86.

It seems that the markets do not approve so far of Mr. Obama. Much more of his kind of Change and we're going to be in deep do-do.

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