The recent interest rate cut, even at a record-low, seemed to have failed to lift business confidence. Today (December 18), stock trading at the Wall Street fell. The Dow Jones industrial index plunged by 1.12% or 99.80, the Nasdaq stock market index also fell 0.67% or 10.58 and the Standard & Poor’s index dropped 0.97% or 8.76 points. While some economists previously said the interest rate cut would boost business confidence, the outcome so far was the other way, the investors’ confidence seemed still reeling the effects of the financial turmoil.

The question that needs an answer will be, “When will this financial crisis really end?” the crisis has already brought the economy at its heel. It has been going on since december last year. It seems the government is not quick at resolving the crisis, although Pres. George W. Bush was very quick at dodging away at the shoes thrown at him in Iraq.

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Posted by Jones on December 22nd, 2008 :: Filed under $$$ CRISIS, SIMPLY SCANDALOUS, STOCK MARKET
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