February 23, 2009
markets fell out of bed today, once again on Wall Street's fears of bank
nationalization... i. e., the threat that taxpayers won't rescue bank investors.The NASDAQ was
off 53.51 points
to close at 1,388,.
the Dow shed250.89
and the S&P
500 contracted 26.72 points
to end at 7430. Oil finished
down a bit at $38.00 a
barrel, and gold fell back to $995.00.
The VIX rose 3.32 to
end at 52.62.
The Dow and the S&P 500 have registered their lowest
closes since 1997. (At 743, the S&P 500 closed two points above its November
21, 2008, intra-day low of 741.) It looks as though the major indices have
broken out of their 3-month trading ranges, and are heading down.
I'll add a little to this in the morning; right now, it's bedtime. (There isn't
a lot to report.)