Jan 20, 2009 5:24pm
Dow Says ‘O No’
EmailMy friend Dan Arnall of the ABC News Business Unit reports:
"The Dow Jones confirms: worst Inauguration Day performance in the DJIA’s history. Today’s close is the lowest close since November 20, 2008."
The Dow lost 332.13 points or 4.01 percent, closing below 8,000.
Welcome to the White House, President Obama!
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It’s business as usual for the Dow to lose on Inauguration Day, maybe the amount is high, but then that isn’t unusual now a days either.
Posted by: JR | January 20, 2009, 5:49 pm 5:49 pm
Tick Tock, Tick Tock.
Yes, the economy is now officially on the Nobama Watch.
Posted by: SandyB | January 20, 2009, 5:56 pm 5:56 pm
It fell so much because the optimists were watching the inauguration and the republicans were working the Dow.
Posted by: hang | January 20, 2009, 5:56 pm 5:56 pm
Guess the rats didn’t get enough bailout money for their undeserved
bonuses. Looks like Cashcarry did.
Posted by: YOMAMA | January 20, 2009, 6:02 pm 6:02 pm
There’s a new kid in town Wallow Street
Rats. Maybe you guys will have to get
real jobs. Hope you’re feelin the pain
since you and the past administration
brought it on. Legacy of GWB, a total
failure on all counts. Bbye !!
Posted by: YOMAMA | January 20, 2009, 6:06 pm 6:06 pm
Investors already nervous about the state of U.S. banking were rattled by the Royal Bank of Scotland’s forecast that its losses for 2008 could top $41.3 billion, the biggest ever for a British corporation. In addition, Bank of America announced 4000 job layoffs.
John – I’ve been reading your Blog and see why Bush gave you the nickname “Pain in the Ass”. Your “reporting” seems more designed to cause confrontation than provide information.
Posted by: Paige | January 20, 2009, 6:10 pm 6:10 pm
Hey Paige – he kinda resembles a pain in the ass doesn’t he? Bush was right on with that!
Posted by: Marcus | January 20, 2009, 6:29 pm 6:29 pm
Nothing to do with Obama. This has to due with the 35 year bubble on pretty much everything, compliments of the Federal Reserve. Both dems and reps have adopted these inflationary measures to promote a false prosperity based on borrowing and consumption. The DJIA would have dropped even under a President Ron Paul even given the fact he was the only candidate that spoke truth to our economic debacle. Enjoy folks, the market is correcting.
Posted by: Huh | January 20, 2009, 6:33 pm 6:33 pm
PITA! Your new nickname John! Good one Paige!
Posted by: Lars | January 20, 2009, 6:37 pm 6:37 pm
Ha…this is just the beginning!
Birds of a feather…..
Posted by: Debra | January 20, 2009, 6:37 pm 6:37 pm
Businesses know what is on the horizon with an Obama administration. All of the sheeple who voted for Obama becaue they thought their lives were going to be made better if the rich were punished are in for a rude awakening. The rich are not stupid. They are not going to simply accept higher taxes. They will cut jobs to maintina their income. They will hold off on expanding their businesses until the environment is more favorable. And yes, they will move more jobs to low income nations to gain a financial advantage.
If you lose your job because of this and you voted for Obama you have no one to blame but yourself.
Posted by: James | January 20, 2009, 6:39 pm 6:39 pm