20 January, 2009

Obama starts Presidency with Wall Street at -5%

One of the most anticipated events in recent history, the inauguration of Barack Obama as President of the United States, came and went with a press spectacle and a crowd upwards of 2Million people keen on having a historic story to tell.

To Wall Street, it seemed as if another day has passed and another set of recessionary problems have been unearthed.  With Financial companies in the most dire of straights, the American Markets were dragged most by the banking sector with losses of 10% as a whole.  The general trading trend was negative today with the Dow closing at its lowest point since late November.

When all was said and done, Markets tumbled about 5%, not a good start for Obama and the message of recovery, change and hope that he preaches.  The man has to be given time, officially now granted the title POTUS,  to spearhead change in Washington and lead a faltering economy back into world limelight, into renewed optimism and tax-bracket independent prosperity.

History will remember this day forever, Wall St should choose to forget it.

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