This is my first attempt to blog about my favorite topics, economy and investing. I will share clippings from my favorite websites.
First sharing:
On Dec 1, US stock markets plummetted. S&P500 (my favorite index) has tanked 9% to around 816 from an NBER report which stated that recession has started since Dec 07. Subsequently, global stocks dropped as well. US Fed Chief has rubbed salt into wound by saying the economy would be under "considerable stress" for some time. Certainly, President Bush did not help by saying "I'm sorry this is happening" to the public.
My prediction: The direction for the market this week would mostly depend on US automakers' bailout outcome from Congress.
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