The Wall Street Roller Coaster
Roller Coast Ride Continues on Wall Street
Where’s the easy button when investors need it? Instead of the easy button, investors continued to press the panic button on Wall Street today. In early trading the Dow fell nearly 700 points. Since then, it has recovered its initial losses then proceeded to loose 300 points, where it currently stands.
President Bush spoke again today on the economy attempting to reassure investors. No new policy was introduced in the speech but there has been widespread speculation of limited nationalization of some US banks. The UK recently passed a similar law and has nationalized some of their banks.
Investors on Wall Street may not see the easy button for years to come but they need to avoid the panic button today. It has been suggested that Wall Street is approaching the bottom of the sell-off but no one knows for sure. President Bush, the Treasury, and other government agencies must do a better job of presenting their case. At this point, the steep drop in the market truly is a knee-jerk reaction. What is needed is some monumental crisis public relations and sound leadership from those at the top of the sinking ship.
Does your company have public relations needs in Raleigh? In North Carolina? Visit the MMI Associates website for more information. Any questions? Leave us a comment or give me, Patty, a call at 919-233-6600.
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