The Low Lowdown on Bush and Markets

The president has not had a calming effect on markets so far.

ByABC News
October 10, 2008, 8:45 AM

— -- In times of economic crisis, American presidents have a long history of taking to the airwaves to reassure investors and try to calm the financial markets.

President Bush has done this nine times in the last month as the U.S. economy has continued its slide.

Of the nine times Bush made a statement, the market went up only twice. Six times the market responded by closing down. He spoke once on a Saturday when markets were closed.

Here are the market results on the days the president released a statement.

Oct. 7Dow DOWN 408 (9,447)

Oct. 6Dow DOWN 370 (9,955)

Oct. 3Dow DOWN 107 (10,325)

Oct. 1Dow DOWN 19 (10,831)

Sept. 30Dow UP 485 (10,850)

Sept. 29Dow DOWN 777 (10,365)

Sept. 24Dow DOWN 29 (10,825)

Sept. 20Weekend-- Markets Closed

Sept. 19Dow UP 368 (11,019)