Dow Plunges; Obama To Speak -- Politico
U.S. markets tumbled sharply on Monday morning — the Dow was off 360 points — and President Barack Obama planned to speak publicly this afternoon on the downturn.
The Dow Jones Industrial Average plummeted by 3 percent an hour into trading after S&P announced its downgrading of scores of lenders dependent on U.S. debt, including mortgage giants Freddie Mae and Fannie Mac. It had opened down 240 points — 2.3 percent — in the first few minutes of trading.
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My Comment: I expect nothing new .... he will continue to blame everyone else. For a look at today's markets right now, go here.
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