Stocks slumped to two-month lows Tuesday as investors looked beyond President Barack Obama's historic inauguration to the battered economy he inherits.
The Dow Jones industrial average (INDU) lost 4%, closing at the lowest point since Nov. 21. The Standard & Poor's 500 (SPX) index lost 5.3% and the Nasdaq composite (COMP) lost 5.8%.
Although Obama is a positive for the markets, his inauguration does not change the underlying issues, said Phil Orlando, chief equity market strategist at Federated Investors.
read the CNN story
The Dow Jones industrial average (INDU) lost 4%, closing at the lowest point since Nov. 21. The Standard & Poor's 500 (SPX) index lost 5.3% and the Nasdaq composite (COMP) lost 5.8%.
Although Obama is a positive for the markets, his inauguration does not change the underlying issues, said Phil Orlando, chief equity market strategist at Federated Investors.
read the CNN story
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