Legal Commentary

Stocks Tumble From Stimulus Plan News

By Jeralyn

Wall St. doesn't think much of the stimulus plan. The Dow fell 382 points.

Yesterday's decline deepened as investors -- who had bid up the price of stocks last week in anticipation of this week's announcement -- cashed in their gains and sold, traders and analysts said.

Geithner's presser hurt as well:[More....]

Traders and Wall Street analysts attributed the nose-dive to a lack of detail in Treasury Secretary Timothy F. Geithner's highly anticipated speech earlier in the day, in which he described the administration's plan to commit up to $1.5 trillion in public and private funds to help financial firms and get credit rolling through the economy again.

If you read the quotes in the article, Wall St. is frustrated and fed up. Who isn't?

Full post as published by TalkLeft on February 10, 2009 (boomark / email).