Dow finished down 304 points - react after President Barack Obama presented Congress and the nation a $447 billion jobs program
Friday was the first chance for the markets to react after President Barack Obama presented Congress and the nation a $447 billion jobs program. It is not clear to traders that the plan will get through a bitterly divided Congress. The Dow finished down 304 points, or 2.7 percent, its steepest drop in more than three weeks. It closed at 10,992. The average approached a 400-point drop at some points in the afternoon.
Such an outcome could tip the world economy back into recession. In the U.S., economic growth is already slowing, and unemployment is stuck above 9 percent.
Next week FBM KLCI likely to deep to new low.