Daily Report for Wednesday, Feb 18, 2009
(9:20am ET) Markets bombed on Tuesday. Disillusioned with Congress and uninspired by the Obama administration, Main Street is quickly losing faith in Wall Street, slowly realizing that the deleveraging of the economy may forever change the fortunes of the average American. Greedy politicians and overpaid bankers are becoming public enemy number one. Right from the opening bell, stock prices plunged. With most of the damage done in the first 30 minutes, the session closed with the major indexes down sharply: DJIA -297.81 -3.79% to 7552.60; S&P 500 -37.67 -4.56% to 789.17; and NASDAQ Composite -63.70 -4.15% to 1470.66. The Toronto composite fell -299.40 -3.45% to 8378.70, while the Venture Board dropped just -6.48 -0.70% to 919.16. Earlier today (compared to their closes on Friday), the Asia-Pacific equity markets were all down: Australia (-1.33% to 3366.9 vs 3496.7 Friday); Japan (-1.45% to 7534.4 vs 7779.4 Friday); China (-4.72% [More...]
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