As has been the trend since President Obama’s re-election, bearish momentum continued to dominate Wall Street, sending U.S. equities tumbling once again today. Late last night, Obama reinforced his solution for the U.S.’s deficit reduction, taking a tough stance and drawing an aggressive line on his policies, which include $1.6 trillion in new tax revenues. While some believe that a tax hike is a necessary step that Congress must take, others criticize that the looming rise of taxes and government spending cuts will ultimately push the U.S. back into a recession [see Free Report: How To Pick The Right ETF Every Time. Global Market Overview: Stocks Tumble On Obama's Aggressive Tax Stance All three major U.S. indexes tumbled into negative territory today following the President's press conference on the Fiscal Cliff. The Dow Jones Industrial Average took the biggest slide, logging in a loss of 1.45%. The S&P 500 and Nasdaq dropped 1.38% and 1.29% during [...] Click here to read the original article on ETFdb.com. Related Posts: Best Performing ETFs Of 2009 Wednesday’s ETF Chart To Watch: SPDR S&P Retail ETF (XRT) ETF Insider: Fiscal Cliff Woes Set Volatile Tone ETF Insider: Stocks Await Guidance From Election, Bank Rate Decisions ETF Insider: Sandy Rattles Wall Street
As has been the trend since President Obama’s re-election, bearish momentum continued to dominate Wall Street, sending U.S. equities tumbling once again today. Late last night, Obama reinforced his solution for the U.S.’s deficit reduction, taking a tough stance and drawing an aggressive line on his policies, which include $1.6 trillion in new tax revenues. While some believe that a tax hike is a necessary step that Congress must take, others criticize that the looming rise of taxes and government spending cuts will ultimately push the U.S. back into a recession [see Free Report: How To Pick The Right ETF Every Time. Global Market Overview: Stocks Tumble On Obama's Aggressive Tax Stance All three major U.S. indexes tumbled into negative territory today following the President's press conference on the Fiscal Cliff. The Dow Jones Industrial Average took the biggest slide, logging in a loss of 1.45%. The S&P 500 and Nasdaq dropped 1.38% and 1.29% during [...]
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