Posted by Darth Venomous @ 20:04
Boy howdy, that $170 million inauguration sure fired up Wall Street, didn’t it?
The dawn of the Obama presidency could not shake the stock market from its dejection over the rapidly deteriorating state of the banking industry.
Financial stocks, many of them falling by double digit percentages, led a huge drop on Wall Street Tuesday that left the major indexes down more than 4 percent and the Dow Jones industrials down 332 points. Although traders on the floor of the New York Stock Exchange paused to watch the inauguration ceremony and Obama’s remarks, the transition of power didn’t erase investors’ intensifying concerns about struggling banks and their impact on the overall economy.
The Dow Jones industrial average fell 332.13, or 4.01 percent, to 7,949.09, its lowest close since Nov. 20, when the blue chips ended at 7,552.29 — their lowest point in more than five years. It was also the blue chips’ biggest drop since Dec. 1.
It was the worst Inauguration Day performance for the Dow, according to the article.
And you can’t blame Bush for this one, Donktards. I mean, not that I haven’t been blaming the Ayatollah for everything bad that’s happened since November – I have – but you can’t even argue with me on this one now. This one gets pinned on your empty suit – no ifs, ands or buts about it.
Enjoy the next four years, Donktards.
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