Wall Street dragged by financial sector jitter

On 20 January 2009, the trading session was deep in the red as the overall market sentiment turns bad on financial. Financial sector took a hard hit as the recent RBS, Royal Bank of Scotland (RBS.L) had announced the largest loss in UK corporate history. This negativity had more or less set the tone making investors anxious on how the rest of the banks will be doing in their up coming earning reports.

Banking or financial sector in Wall Street took a beating as Citigroup (C.N) fell 11 percent to $3.15 or thereabouts during the time of post.

Banking sector had added a great amount of pressure during this trading day as the market is again looming with negativity and uncertainties despite the recovery over the past weeks.

Dow Jones Industrial Average Index (DJI) is currently down by 124.88 points or 1.51 percent. A slight rebound from falling over more than 150 points just a moment ago.

20 January 2009 happens to be the inauguration of President-elect Barack Obama. Banking worries still looming but recovery towards the end of the trading session seems likely.

The above are of personal opinion and not at all an inducement to trade.

This work is licensed under a Creative Commons Attribution 3.0 License.

Rate It:

• 1
• 2
• 3
• 4
• 5