Upon the announcement that China will not create an additional stimulus plan, stocks have reversed and have now given up all of yesterday's gains, with prices near the lows of the day. We are also within only about 10 points of the previous low March 3rd. Citigroup has now reached the $1 price, and may be ejected from the Dow. Bank of America is also at risk of the same fate.Thursday, March 5, 2009
Stocks Give Up Yesterday's Gains
Upon the announcement that China will not create an additional stimulus plan, stocks have reversed and have now given up all of yesterday's gains, with prices near the lows of the day. We are also within only about 10 points of the previous low March 3rd. Citigroup has now reached the $1 price, and may be ejected from the Dow. Bank of America is also at risk of the same fate.
