On Inauguration Day U.S. Markets closed lower

On Inauguration Day U.S. Markets closed lower

On the day of the Inauguraion of President Barack Obama the U.S. markets closed down by 4 and more than 5 percent. Asian and European markets were already very weak about dismal economic news and the continuing weakness in the banking sector. Especially the U.K. banks were very weak.

On Wednesday the 21st of January Asian markets closed down with 1 and 2 percent losses.
At 10.00 hours in Amsterdam the European markets showed weakness with losses of around 1 and 2 percent. The British Pound hit a seven and half years low against the dollar, with the UK banking sector continuing to suffer.
In Amsterdam (AEX) the financials were hit.
For Wallstreet the futures point to a stronger opening.
IBM came up with a very optimistic forecast for 2009. The Tech sector seems to be one of the gainers today.

Although dire predictions and dismal figures about the economy will prevail for the coming months, the seeds of a new optimism are planted. However, the whole global economy cannot be turned around within a few months and all the rot is not out of the financial system yet.
In the main part of the EU, which lacks inspiring and creative new leaders and which is plagued by a heavy and unflexible bureacratic system, things could turn much worser before improvement sets in.

Global U.S.A (Obama) adversaries beginnig to speak out (Bloomberg.com)
In places where the U.S. is considered an adversary, many citizens expressed skepticism that Obama, who pledged in his inaugural address yesterday to “seek a new way forward,” will be able to overcome decades of hostility.