Thursday, March 5, 2009

Obama Reality Poll Plunges Another 220 Points

The Dow Jones industrial average has fallen another 220 points today on new concerns about the stability of General Motors and the ongoing uncertainty about the financial system. In afternoon trading as of this writing, the Dow is down 228.35, or 3.32 percent, to 6,647.49, a low not seen since April 1997.

The Standard & Poor's 500 index dropped 25.61, or 3.59 percent, to 687.26. The S&P has not traded below this level since October 1996. The Nasdaq composite index fell 39.54, or 2.92 percent, to 1,314.20.

I will now refer to the stock index on this blog as the 'Obama Reality Poll' in honor of the novice president's statement Wednesday dismissing this week’s plunge in the market as a “day-to-day gyration” similar to daily tracking polls during an election campaign.

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