Monday, December 1, 2008

Tank-O-Matic

The whole "Obama Announces Something At Press Conference, Stock Market Goes Up" theory died a painful, painful death today as the Dow tanked 680 points, or 7.7% or so. NASDAQ and S&P 500 were down even harder, almost nine percent a piece.

Daily occurrences of almost ten percent swings in a major stock market for a six week period are generally signs of a mortally wounded financial system.

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