Stocks Continue to Slide on Tuesday

The downward trend of the stock market continued for yet another day. Marking the fifth straight day in which the stock market dropped, Tuesday saw the Dow Jones industrial average finish at 6,726.02.

Twenty Dollar Bill - Source: Flickr

Compared to the carnage on Monday, the drop on Tuesday doesn’t appear too devastating. However, with the Dow Jones falling nearly 40 more points, you’d have to go all the way back to the end of April in 1997 to find the last time the index was this low.

The Standard & Poor’s, which takes a broader look at the market than the Dow Jones, dipped under 700 and finished at 696.33. This index had been hovering right around 700 for a while but Tuesday’s performance lowered it to a level it hasn’t seen in more than a decade.

President Barack Obama urged the country to regain confidence in the stock market and begin buying more stock. While that may have a little bit of a positive influence in the next few days, many stock market experts believe that the worst days of this economic slump are still ahead.

Two companies that aren’t helping the confidence of investors are Citigroup and AIG. Despite being handed billions and billions of dollars by the United States federal government, these two companies are still losing millions each day. Until investors start seeing some sort of signs that the market has reached a bottom and the economic freefall has ended, expect to see rocky times.

Source: Wire Reports