The leading indices had opened lower as investors began to digest leaked details of the proposals and awaited expected Senate approval of the economic stimulus package.
“The slide in US equities are a fairly obvious thumbs down,” wrote Marc Ostwald, Strategist at Monument Securities. “It certainly looks like Mr Geithner and his team will need to go back to the drawing board again. A lot of this looks like a re-working of existing plans/programmes.”
Alan Ruskin, senior analyst at RBS’s global banking and markets division, said that, based on the leaked excerpts, the plans looked “worryingly short of new initiatives; short on detail on the main fresh initiative; and, short on the confidence factor that this will all work out fine.”
FT.com
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment