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31st January 2008, 07:26 AM
The US Fed last night released a .50 point rate cut just after 2pm, but between 2pm and 4pm the Dow Jones rocketed up then dropped to finish lower by the end of the day. Investors, after three days of gains took profits and left the market rather flat. It is clear that the rate cut just wasn't enough to persuade investors to stay in the game.
The ASX yesterday closed 155 points lower and I suspect that it will weaken further as more and more eyes realise that the US recession will effect the globe.
Just a quick post today - got an exam.
The ASX yesterday closed 155 points lower and I suspect that it will weaken further as more and more eyes realise that the US recession will effect the globe.
Just a quick post today - got an exam.