Markets Tank Over Fears That Generational Theft Act Won't Help Economy …Update: Dow Ends 1 Point From November Low
The markets have now dropped 2,000 points since Barack Obama won the election.
The announcement today Obama will sign the largest spending bill in history did not help any. Stocks tumbled out of the gate by 250 points or 3.0% as investors worried that efforts to stabilize the beleaguered financial system may not prove sufficient.
IowaHawk provides the mood graphic:
The Democrats are driving the economy off a Cliff to Nowhere.
…But, at least they got their pet pork projects funded.
UPDATE: The Dow shed nearly 297.81 points, or 3.8 percent, to close at 7552.60, within one point of its November closing low.