Get PJ Media on your Apple

The PJ Tatler

by
Richard Pollock

Bio

August 8, 2011 - 11:35 am

On the basis of its market reaction, Wall Street clearly rejected President Obama’s first comments on Standard and Poor’s historic downgrade of U.S. sovereign debt from AAA to AA+. During his address the Dow drop accelerated and dropped below 11,000.

When the president was scheduled to speak at 1:00 pm, the Dow was down 300 points.  By the end of his speech it had dropped 150 points to 450.  Twenty minutes after the speech the Dow dropped declined by 600 points.

The Nasdaq also dropped from the beginning of his speech from negative 98 to 156.

So far the market response is a massive vote of no confidence of the president’s remarks.

Richard Pollock is the Washington, D.C., editor for PJ Media and the Washington bureau chief of PJTV.
Click here to view the 14 legacy comments

Comments are closed.

One Trackback to “Dow Declines More Than 300 Points and Falls Below 11,000 Following Obama Speech”