October 11 in history

October 11, 2009

On October 11:

1852 Australia’s oldest University, the  University of Sydney, was inaugurated

1861 The first Cobb & Co coach ran from Dunedin to Gabriels Gully.

1884 Eleanor Roosevelt, US First Lady, was born.

1899 The Second Boer War began.

1926 Neville Wran, Premier of New South Wales, was born

1984 Astronaut Kathryn D. Sullivan beccame the first Americanwoman to perform a space walk.

Sullivan Views the Earth - GPN-2000-001082.jpg

2007 The record high of the Dow Jones Industrial Average occured at 14,198.10 points.

Sourced from Wikipedia & NZ History Online.

What happened to the honeymoon?

January 21, 2009

Barack Obama was sworn in today and the US stock market fell:

The main Dow Jones index had its worst Inaugural Day decline, plunging 332.13 points, or 4%, to 7949.09, fuelled by a doubling of unrealised losses at State Street, the largest money manager for institutions, and predictions that Wells Fargo would cut its dividend. 

State Street declined 59% and Wells Fargo was down 23%.

The S&P500 was down 2.4% at 829.72 as President Obama took his oath just after 6am NZ time. It closed at 805.22, a 5.3% drop. The broad-based index is off to its second-worst start to a year, shattering the biggest rally since World War II.

The S&P financials index was down 17% to near 14-year lows.

Is this the shortest honeymoon in political history?

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