Posted on 08/30/2010 11:24:35 AM PDT by blam
Wall St Loses Ground After Obama Comments
August 30, 2010
REUTERS/Brendan McDermid
NEW YORK (Reuters) - Stocks accelerated declines on Monday after comments from U.S. President Barack Obama did little to soothe investors anxious over the slowing pace of the recovery.
Obama said he and his economic team discussed additional steps to promote economic growth, including looking at tax cuts for businesses. Stocks had been trading lower prior to the comments and the losses picked up steam.
On the S&P 500, financial and consumer shares led the way down, while the Nasdaq fared worse than the other two indexes as big-cap technology shares weighed.
The Dow Jones industrial average (DJI:^DJI - News) slipped 78.94 points, or 0.78 percent, to 10,071.71. The Standard & Poor's 500 Index (^SPX - News) fell 8.45 points, or 0.79 percent, to 1,056.14. The Nasdaq Composite Index (Nasdaq:^IXIC - News) gave up 18.38 points, or 0.85 percent, at 2,135.25.
(Reporting by Leah Schnurr; Editing by Kenneth Barry)
(Excerpt) Read more at finance.yahoo.com ...
The market sees a marxist at the helm, and silently groans, afraid to say anything out loud for fear of being called racist.
The guy needs to go on vacation or golfing or something.
Obama. Ineffective.
Pathetic. He should change his name to Flounder.
“Obama opens his mouth, the market goes down. Sure as the sun rises and sets.”
It’s because he lies so casually and consistently, even ‘good news’ is met with suspicion. Nothing he says now will help, except “I’ve resigned.”
That's what it's come to in this country. Speaking out against a black "president" = racist. I'm really sick of it.
“The guy needs to go on vacation or golfing or something.”
About time for one again.
He just doesn't want to admit that tax cuts HELP not hurt the economy.
“Obama said he and his economic team discussed additional steps to promote economic growth...”
Ivory Tower dwellers classify the above as “doing something” about a problem.
Take the rest of the day off champ, your work is done.
Wall St falls as economy worries persist
Must have been a little too rough on The One the way it was originally posted.
Obama can toss another turd in the stew but it will still be turd stew.
I walked by the TV in our cafeteria earlier and one of the minions was on CNN talking about another housing “tax credit”.
Oh brother....they STILL have no clue.
Down over 140 to close. Ooof. Any chance we can convince the jackass to take another vacation?
We should pay the RPITA( Royal Pain in the A**) to stay on vacation, things go along just fine when he and his minions are out of town.
We should pay the RPITA( Royal Pain in the A**) to stay on vacation, things go along just fine when he and his minions are out of town.
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