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A sight of carnage: US

Monday, March 2, 2009

DJIA has fallen past the psychologically important 7,000 marker to trade at 6,763.29 at the time of writing this – well below its previous 52-week intraday low of 6,952.06. As it stands, the Dow is now at the levels last seen in April 1997. …..

…The drivers for the latest slide are clearly the renewed pressure on financials and the fact that the Obama Honeymoon is over – the markets are now turning sceptical about the new administration’s ability to push the economy out of a depression spiral. Concerns are mounting as to the inflationary effects of the current policies amidst a general conviction that there will be no upside to economic growth. The traditional partisan Democrat policies are now being seen as a return to the dark ages of Jimmy Carter….
Link to article with charts

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