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Gasonline tax increse
California gasoline and diesel fuel tax increase of one cent per gallon -
Stock market sell off reduces Dow Jones
Stock market selloff reduces Dow Jones Industrials by 9.7 percent from January peak.
Treasury 30-year bond yields 7.42 percent, up from 5.79 percent in October.
Fixed rate mortgages exceed 8 1/2 percent, compared to 6.8 percent in October, 1993. -
Cutoff of all trade
President Clinton announced a cutoff of all trade by U.S. companies with Iran. -
Eliminate jobs
AT&T will eliminate at least 40,000 jobs over the next three years as part of its plan to split into 3 companies. -
Federal Funds
Federal funds rate raised from 5.25 percent to 5.50 percent. -
Dow Jones Industrial Average Falls
The Dow Jones Industrial average fell 512.61 points wiping out what remained of the year’s gains. The Nasdaq Composite fell 140.43, its worst point drop ever. -
NASDAQ
Nasdaq closed above the 3000 mark for the first time.
Packard Bell says it will end its computer manufacturing business, close its Sacramento plant, and lay off 80 percent of its US workforce. -
GDP Grows
Fourth quarter GDP grew at an annual rate of 5.8 percent. -
Terrorists Attack
Terrorists attack World Trade Center and the Pentagon. -
Dow Jones Industrial Average Sank
The Dow Jones industrial average sank to its lowest level in nearly four years. Both the Nasdaq and S&P 500 are at their lowest levels since the first half of 1997. -
U.S Treasury
United States Treasury begins mailing $400 per child tax rebate checks. -
Oil Prices
International oil prices hit a 3-1/2 year high. -
Federal Funds
Federal funds rate raised from 2.25 percent to 2.50 percent. -
Minimun Wage
California Governor Arnold Schwarzenegger won a second term.
Voters in six states approved ballot measures raising the minimum wage, joining 18 other states in setting a wage higher than the federal mark of $5.15 an hour. -
US Payroll Job Growth
US payroll job growth slowest since 2004. The Dow Jones industrial average hit another record high making this the longest bull run in 80 years. -
Consumer Prices
Consumer prices, over the past 12 months, is up by 4 percent, reflecting sharp gains in energy costs, which are up 17 percent over that period, and food prices, which are up 4.4 percent. -
Dow Jones
Dow closes above 9000; first time since January.
Federal minimum wage jumps from $6.55 an hour to $7.25 an hour. -
Wall Street Reform
The Wall Street Reform and Consumer Protection Act was signed into law
by President Obama. -
Obama Signs
Obama signs debt ceiling bill. -
Foreclosure Abuses
States reached $25 billion settlement with banks over foreclosure abuses.