NO Victory Cheer On Wall Street

wall-street

Wall Street has plunged as investors worried about the global financial crisis and a US recession, a day after Democrat Barack Obama was elected the next US president in a landslide victory.The Dow Jones Industrial Average fell by 486.01 points to 9,139.27 and the tech-heavy Nasdaq fell by 98.48 points to 1,681.64. The elected President faces the Crisis rising Unemployment, Falling house values and what not. ” The problems will not wait till the newly elected President takes charge on January 20 “… Source said. ” Investor concern returns to the economy and signs of further weakening in virtually all sectors of the economy “, said Fred Dickson at Davidson and Co. The main crux is that the Banks are unwillingly lending money inspite of Global Crisis.      NYMEX>>

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