Wall Street yawns at President Obama's speech on the economy. All the leading indicators fell over 1% today by closing. A speech filled with misleading facts is not enough to turn around the record low consumer sentiment. America needs tax cuts and we need them now. The $8 per week is an insult to our intelligence.
The Dow Jones industrial average fell 80.05, or 1.09 percent, to 7,270.89.
The Standard & Poor's 500 index fell 8.24, or 1.07 percent, to 764.90.
The Nasdaq composite index fell 16.40, or 1.14 percent, to 1,425.43