Obama Vs Markets
Vanishing jobs and slumping markets confronted Barack Obama on the first day after his historic election as US president, escalating pressure for urgent action to curb the world’s relentless financial crisis.
A day after being elected America’s first black president, Obama heard a chorus of congratulations from around the world but also warnings about the creeping global recession that will crowd the top of his agenda along with the wars in Iraq and Afghanistan.
Investors and world leaders expressed hope Obama could guide the international community while investors eagerly awaited an announcement on who would be selected as Treasury Secretary to oversee the $700 billion program to buy distressed assets and recapitalize wobbly financial institutions.
"Even though there’s a lot of enthusiasm and a lot of excitement around the new president, I think it’s going to be very difficult for anything quick to happen," said Dean Barber, president of Barber Financial Group in Kansas City.
How many Markets Down
The BSE benchmark Sensex opened 3.6 per cent lower on Thursday, led by Reliance Industries and ICICI Bank as it was weighed down by falls in Asia and Wall Street on fears of a deep recession.
At 9:56 a.m., the 30-share main BSE index was down 3.31 per cent, or 335.35 points, at 9,784.66, with all components falling.
The 50-share NSE index lost 2.83 percent to 2,910.10….
Q. Obama is Good president for India?
Options.
1.Yes
2.No
3.Can not say
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