In relation to the trillion dollar estimates made by both the Senate and the House,what was the longshot figure that the stock market lost over the past week? My feeling is that the trillions lost in the market exceeded the trillions that the Senate and House were squabbling about. – Stan
The drawn out debate has been closely watched by Wall Street. Stan’s guess is not that far off.
Last week the markets lost about $700-billion in value, about three-quarters of a trillion. The final debt package cuts government spending by more than $2-trillion.
However, you probably can’t blame Congress alone for the recent market losses. There are a lot of other warning signs of a weak economy that analysts are watching and reacting to.
Even though the debt package has been passed, the stock market is down today so far (2:38pm).
If you own stocks, are you worried? Are you making any changes?