Open Thread: Sundown, Sinking Slowly Into the Sea…
50 minutes ago
Monday, October 13, 2008
Relief on Wall Street
As the week begins, I’m sure that it is a relief for many to see that the Dow Jones Industrials has attained a shocking 936-point increase, especially after eight consecutive days of losses. Also, United States stock market paper gains reached $1.2 trillion. Following suit with this surprising turn of events, the NASDAQ composite index also increased by a total of 195 points. In the previous week, the Dow dropped by a devastating 2,400 points and about $2.4 trillion in shareholder wealth. Although this is comes as a major relief, Wall Street still has a long way to go in order to restore our economy. As of the today, the Dow’s current 9,387 points still remains to be about 5,000 short of the 14,165 seen a year ago. In addition to the stock market, Wall Street has other issues to tackle, including a troubled housing market as well as worried investors. In the end, it’s reassuring to see that hope is beginning to resurface; however, time will tell if this same trend will follow in the future.
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2 comments:
well i guess these rapid shifts in point increases and decreases pretty much embodies the risky nature of the stock market. So so many people must have been devastated by the stock market and so so many people probably just became rich today. People's fortunes just come and go with this fluctuating economy... But at least this point increase seems to signal a hopefully brighter future.
The stock market is definitely a risky place and now, especially, nothing is steady. This dramatic increase is a good thing and I think it's created a little more optimism and less panic. With so many problems that need to be solved, we can't expect an effective solution immediately. Just like you say, only time will tell.
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