The Dow has officially tripped another "psychological barrier," writes the AP. Today, the index busted through its November low, which many analysts hoped was the bottom of the bear market. In fact, today's close left the index languishing at its lowest since October 9, 2002, the bottom of the last bear market.
It seems like just yesterday that we were talking about how the Dow below 10,000 was a psychological downer.
What Real Time Economics is reporting is also a downer for those who were expecting a quick market turnaround: a survey of top executive don't think the economy will even start recovering before 2010.