Good job, Barry. Getting that swing set was real important, eh?
Stocks plunged to fresh 12-year lows Thursday as investors waded through more grim news: GM said its survival is in doubt, bank shares took a beating, and Citigroup fell below a buck.
The Dow Jones industrial average (INDU) fell 281 points, or 4.1%, to close at 6,594.44, according to early tallies, ending at the lowest point since April 15, 1997. The Dow fell as low as 6,544.10 during the session.
The Nasdaq composite (COMP) fell 54 points, or 4% to close at 1,299.59, ending at the lowest point since 1279.24 on March 12, 2003, at the bottom of the previous bear market. The Nasdaq fell as low as 1,298.33 during the session.
The S&P 500 (SPX) index lost 30 points, or 4.3%, closing at 682.55, the lowest finish since Sept. 18, 1996. It fell as low as 677.93 during the session.
What excuses are you going to make for The One now, Obamanuts? How will you blame this on Bush? He wasn’t the one who backed Porkulus, and damned sure wasn’t the one who hire tax-cheat and wonderboy Treasury Sec. Tim Geithner.
