Showing posts with label stocks fall. Show all posts
Showing posts with label stocks fall. Show all posts

Wednesday, February 25, 2009

Speech Lifts Obama But Stocks Fall Yet Again

TIMES ONLINE: The voters loved it. The pundits gushed. Even the pollsters were impressed.

But economic reality soon intruded to burst the bubble around Barack Obama's address to Congress last night in which he promised America that it would emerge "stronger than before" from the economic slump.

Wall Street stocks plunged again at the opening bell this morning, the Dow Jones Industrial Average losing almost 2 per cent in value as investors ignored Mr Obama's soaring rhetoric and lamented a lack of detail in his economic recover plans. Official data showing an unexpected drop in the number of home sales did nothing to reassure them. >>> Philippe Naughton, and Tim Reid in Washington | Wednesday, February 25, 2009

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