Stock Market Information

Well it appears that the $700 billion dollar bailout was not enough to convince investors that better times were on the way. A recent report on jobs helped to lead the market down as jobless claims went to a seven year high. In addition, there were fears that the House will once again strike the bailout plan down.

Credit also remained very tight, and Treasury prices continued to jump in price as more investors looked to lessen their appetite for risk. The Dow Jones Industrial Average dropped about 348 points. The S&P 500, for it’s part, fell about 4%.

The continuing concern is that even if the House manages to pass the bailout will it have enough of an in impact to free up an increasingly choked off credit market. A lot of experts have thrown their weight behind the bailout, including master investor Warren Buffett. If it fails to pass, he joked morbidly, “I may go back to delivering papers.” That helps to explain the gravity of our economic situation.