Tuesday, February 17, 2009

Dow Jones: "How low can you go"?

President Barak Obama signed the "Generational Theft Act of 2009" today and the Dow Jones dropped 297 points for an almost ten year low.

Markets from Hong Kong to Stockholm to London staggered lower. On Wall Street, the Dow came within sight of its lowest levels in more than a decade. Rattled investors clamored to buy rainy-day investments like gold and Treasury debt.

It was a global wave of selling spurred by rising worries about how banks, automakers - entire countries - would fare in a deepening recession.

UPDATE: The Dow has lost 728 points since Obama became President.