Equities investors offered a shaky response as the Obama Administration began unveiling plans to shore up the financial system and stem the economic recession.  The broken financial system recovery efforts by the US government will use mostly private money to create a fund of at least $500 billion to recapitalize banks and another fund of $1 trillion to support consumer and business lending, Treasury Secretary Tim Geithner announced Tuesday.  Additionally, all major US banks will be required to undergo a rigorous 'stress test' to determine if they can survive a more severe economic downturn. 

The NYSE sank -4.84% while the NASDAQ tumbled -4.20% on the day.

NLX NYSE -39

NLX NASDAQ -37

These reports express our opinions and suggestions, provided only as a supplement to your own further research and decisions. We take care to assure accuracy of contents, but accuracy is not guaranteed. Past performance does not imply future results.
 
Post your comments or email anytime: nlx(no spam)marketcommentary.com