Tuesday, February 9, 2010

No more White House celebration

The Dow Jones industrial average has closed below 10,000 for the first time in three months due to nagging concerns about debt loads in Europe.

The Dow fell 103.84, or 1%, to close on Monday at 9,908.39. Last Thursday, the Dow traded below the psychological barrier of 10,000 for the first time since November and it had not closed below that mark since November 4.

The broader Standard & Poor's 500 index fell 9.45, or 0.9%, to 1,056.74, while the Nasdaq composite index fell 15.07, or 0.7%, to 2,126.05.

Shares of big banks pulled the market lower, extending a slump which has led to four straight weekly losses.


Remember when the White House celebrated the Dow breaking 10,000 in the fall?

If you think Obama's popularity is falling now, wait until people get their 401K statements through 3/31/10.

The 401K statements through 9/30/08 are what sank McCain.

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