Retail Sales Smacked, Stocks Down, Bush Assures Taxpayers
The lowest retail sales figure since 2005 disappointed the stock market today resulting in another aggressive sell off. President Bush assured the American tax payers that they can expect to get the Federal bank bailout money back and potentially earn a profit. However, this and a clear plan to solve the crisis did little to stem the bubbling undercurrent of fear gripping the marketplace. Bearish market breadth and dramatic volatility are becoming the flavor of October with the DJIA collapsing -734.75 to 8576.24, the Nasdaq giving up -150.68 to 1628.33 and the broad based S&P 500 dropping -90.17 to 907.84.
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