Why isn't the stimulus helping wall street?

Dow industrials fall below 7,000; lowest since '97
Dow breaks 7,000 for first time since '97 as AIG gets more gov't funding, posts $61.7B loss
Tim Paradis, AP Business Writer
Monday March 2, 2009, 12:16 pm EST
NEW YORK (AP) -- The Dow Jones industrial average has fallen below 7,000 Monday for the first time in more than 11 years as investors grow even more pessimistic about the health of banks, and in turn the economy.

A staggering $61.7 billion in quarterly losses at insurer American International Group Inc. is touching off fresh fears about the health of the nation's financial system.

Those worries pushed the blue chips below 7,000 for the first time since Oct. 28, 1997. The credit crisis and recession have now slashed half the average's value since it hit a record high over 14,000 in October 2007.

The Dow is down 225 at 6,837.

The Standard & Poor's 500 index is down 26 at 708.46, and the Nasdaq composite index is off 38 at 1,338.

Obama's first month in office was the worst for the Dow-Jones since 1933. I know the health of the market was a leading economic indicator in the previous administration. Is that not true of this one?

If you listen to those on the left, this is still Dubwa's fault even though the drastic decline in the stock market started with the 2006 elections and plummeted after the Presidential election and drops every time Obama makes any announcement relating to finance.

ohio county wrote:Obama's first month in office was the worst for the Dow-Jones since 1933. I know the health of the market was a leading economic indicator in the previous administration. Is that not true of this one?

Obama is shown speaking right now, @1:07 pm, on Fox, .... and the DOW ticker behind him is falling deeper into negative territory. -232.61 --- 6829.xx.

It is now at 1927 level.


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It's a good thing he got that big, fat stimulus bill passed. Hard to tell where we'd be right now.