Obama presidency tanks markets
Despite the election of Barack Obama as the next president of the United States, the stock markets took a deep plunge on Wednesday. While the economy was the focus of many voters, it seems that investors are now worried about their portfolios and how they will be affected by a rising tax rate. Wednesday’s plunge goes to show that a single person (in this case Obama) cannot have an overnight influence on the markets. Look for the markets to continue the roller coaster for the next few months until banks, mortgage companies, and investors start to turn things around. We predict this turn around will not happen before June 2009. In the mean time, go buy yourself some stock. After all, it is a 2-for-1 sale right now!!
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