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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (824574)12/21/2014 11:39:20 PM
From: puborectalis1 Recommendation

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bentway

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When President Obama took office on Jan. 20, 2009, the Dow Jones Industrial Average slumped to 7,949.09, the lowest inaugural performance for the Dow since its creation. The S&P 500 and the Nasdaq took similar hits, dropping 5.3 and 5.8 percent, respectively, and fourth quarter earnings reports were on track to drop more than 20 percent over the previous year's figures. Bank stocks in particular were hit quite hard, with the sector in general declining by 30 percent. Bank of America Corp. dropped 29 percent, and Citigroup Inc. sank a comparatively gentle 20 percent.

While the economic backslide may have seemed to indicate that the America public was less than confident in their newly elected leader, the dip was instead widely credited to continued lack of confidence in the failing economy left behind by the previous administration.

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