Stocks Crushed, Barely Above Their Lows

f?id=499b2b2114b9b9490070c29f&maxX=352&m

Ouch. All the intervention we’ve done to save the economy hasn’t done a pig’s lick to improve the mood of the market. Indices were crushed today, down 4% or more across the board, and are now barely above their 52-week highs. The S&P 500 ended up at 789, about 48 points above its lows made last year.

Meanwhile, all thing kings horses haven’t improved the standings of the banks. Citi (C) closed at $3.06, and despite Geithner’s bold pronouncements, nationalization is clearly still back on the table.

But remember, we’ve learned our lessons from Japan and other financial crises. Because, you know, we acted early.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.