Tuesday, February 17, 2009

Mr. Market takes another swig of Haterade

If there is a global conspiracy to make Barack Obama look good, I think it's now safe to say that it does not extend to manipulation of the stock market. Equity prices have tanked on election day, Geithner plan announcement day, and now on the day he signs the $787 billion American Recovery and Reinvestment Act.

For the S&P to be down almost 5% in a day is serious business, even by recent standards of volatility.

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