Investors tried to digest more than one kind turkey
Posted By RichC on November 26, 2011
I not the only one with indigestion … and it isn’t from the Thanksgiving day eating or the leftovers (or even the Black Friday frenzy) … but the crushing financial markets that have haunted investors since Halloween.
The Dow Jones Industrial Average has turned in its “worst Thanksgiving week performance since markets began observing the holiday in 1942, falling 4.8% to 11231.78, capped by a 25.77-point slide on Friday.” In fact, “the Dow has fallen 7.6% over the last two weeks and is now down 3% for the year amid increasing uneasiness over Europe’s sovereign-debt problems and the failure of U.S. lawmakers to reach a deal on reducing the budget deficit.” (LINK) It is debatable, but markets would be far better IF politicians on both sides of the Atlantic could come together and address the debs and deficits … or at least in our country come up with an economic plan that is encouraging. Are we really in for trouble or is there something positive on the horizon? (a little positive cheerleading from the Whitehouse would be helpful)
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