Another Omen: Stocks down majorly on inauguration day

Associated Press ^ | 1-20-09

[Justaham]

After hearing the new president’s inaugural address Tuesday, investors continued selling, sending the major indexes down more than 2 percent. Investors are expecting Washington will be a central part of the economic recovery. But the first few minutes of Obama’s term did little to ease their concerns.

as of 11:58am PST: Dow down 272 points Nasdaq down 71 points

[bigbob]

Business voting with its wallet

[elhombrelibre]

Maybe Obama needs to come up with some more pish posh rhetoric about hope. That ought to cause investments.

[lormand]

I saw a homeless guy with a sign at a street corner nearby, AFTER, the immaculate inauguration. I don't get it, no miracles yet?

On a good note, I don't have to pay my mortgage or work hard anymore. Hurray for the slacker culture. What me worry?

[dforest]

Hope and change. We all gonna get rich. Yee hah

[JennysCool]

Just keeping track of things collapsing so far today:
Stock Market
Kennedy
Byrd
Common Sense

[BossLady]

Maybe people are realizing putting real money in hope and change is not necessarily a sound investment. When I go to get a loan....the banker does not lend me money based on the fact I ‘hope’ I am able to pay off the loan based on my ‘changes’.....LOL!

[dmanLA]

It’s hilarious watching the dopes on CNBC try to explain why the markets are down big after Obama’s swearing in.

Idiots....

[an amused spectator]

7989.95 (-291.27 @ 3:14 edt)

[JRios1968]

[bricklayer]

When is the last time it’s been below 8000?

[TonyM]

I hope it falls below 1000 by the end of the month. A depression might be just what is needed to wake this nation of idiots up.

[an amused spectator]

Late November, 2008 - when the Obamanation was sinking in.

[pallis]

The Oconomy is going to be a doozie. At a time when we need another Reagan to make things right, we are getting a Carteresque doofus.

[Red in Blue PA]

CNBC are a bunch of idiots.

Why is the market down?

Two words: Occam’s Razor.

[Starboard]

A depression might be just what is needed to wake this nation of idiots up.

Speaking of idiots, three key things got Obama elected: Media, Money, and Morons.

[bolobaby]

I highly recommend stocking up that year’s supply of food, if you haven’t done so already. I’ve been using www.beprepared.com.

[familyop]

Liberal investors did the same thing after President Bush was elected. Many women in middle management and government offices were spreading plans to that effect back then.

[Justaham]

End of the day:
DOW - down 332 point
NASDAQ - down 88 points

[Cage Rattler]

Same pattern on 8 out of the last 10 inauguration days (since 1937). Stocks down on the day.