The Dow has reached the depths of 9450 or thereabouts. Maybe one day you can tell your grandchildren about the time when it stood at 14,000+. What's amazing about today is how Fed Chairman Ben Bernanke strongly suggested during a speech that interest rates would be cut again - the kind of news that in other times would move up the markets. Not now. "At this point it just doesn’t seem to be doing it. It’s the attitude of sell regardless of what the news is," Steve Sachs, director of trading at Rydex Investments, told the NYT.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed