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Stock Market Has Fallen Steadily Since Bailout Bill Signed

Posted By admin On October 28, 2008 @ 5:24 am In Money Watch | Comments Disabled

Matt Cover
CNSNews.com [1]
Tuesday, Oct 28, 2008

The U.S. stock market has lost 1,417 points–a decline of nearly $3 trillion in value–since President Bush signed into law a $700-billion financial industry bailout bill that was supported by both the Republican and Democratic presidential candidates.

Last week, stock markets closed at a loss for the third straight week since the bailout’s enactment.

When Bush signed the bill Oct. 3, the New York Stock Exchange (NYSE) Composite Index was valued at $14.3 trillion, closing at 7,088 points. The Composite Index, unlike the Dow Jones Index, is a look at how all stocks in the market are faring.

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Stock Market Has Fallen Steadily Since Bailout Bill Signed 161008pptv3 [2]

Over the last 14 trading days, the market has lost 1,417 points, worth nearly $2.9 trillion in value–roughly $214 billion per day. As of Thursday, Oct. 23, the market had fallen to 5,671 points, worth $11.4 trillion. By the close of the market on Friday, the index had fallen another 244 points, to 5,427–with the new estimate of total value not yet available.

The most dramatic sell-off came in the week immediately following the bailout, with the market losing over $2 trillion in value.

In the month preceding the bailout’s enactment, the stock market declined from a level of 8,269 points, worth a total $16.8 trillion, down to 7,155 points, worth $14.5 trillion–a decline of 1,114 points, or approximately $2.3 trillion in value.

The market opened in January at 9,647 points–worth $19.7 trillion.

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[1] CNSNews.com: http://www.cnsnews.com/public/content/article.aspx?RsrcID=38140

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[3] MARC FABER: Obama Is A Disaster, The Stock Market Should Have Fallen 50%, And You Should Buy Yourself A Machine Gun: http://www.prisonplanet.com/marc-faber-obama-is-a-disaster-the-stock-market-should-have-fallen-50-and-you-should-buy-yourself-a-machine-gun.html

[4] In Past Week Americans Pull The Most Money From Stock Market Farce Since US Downgrade, Despite Market Surge: http://www.prisonplanet.com/in-past-week-americans-pull-the-most-money-from-stock-market-farce-since-us-downgrade-despite-market-surge.html

[5] People Who Opposed The Bailout are NOT To Blame for the Stock Market Crash: http://www.prisonplanet.com/people-who-opposed-the-bailout-are-not-to-blame-for-the-stock-market-crash.html

[6] Average US Family Lost $21K in 6 Months Due To Property Values, Stock Market: http://www.prisonplanet.com/average-us-family-lost-21k-in-6-months-due-to-property-values-stock-market.html

[7] China’s Latest Stock Market Scare Was Its Worst Yet: http://www.prisonplanet.com/chinas-latest-stock-market-scare-was-its-worst-yet.html

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