Posted By RichC on March 2, 2009
Here’s a bright thought: if, scratch that, when … the economy rebounds, it most likely will rise quickly from the shocking lows we are currently seeing. The dark side is that this selloff doesn’t seem to be finding a bottom and there aren’t many confident traders ready buy stocks again.
Today’s news from AIG that they lost $61.66 Billion in the last quarter not only put them in the history booksas the company with the largest quarterly loss ever, but also drove investors to sell their already pummled stocks. So much so as to drive the Dow Jones Industrial average well beneath the 7000 market to 6763 at the close of trading.