Title: Market analysis with Jim Lowell

" And stocks dropped across the board on Obama's first day in office the worst inauguration day drop in history the Dow Jones Industrial Average toppled 332 point 4%. Closing at 7949. The Nasdaq Composite fell five and three quarters percent 1440. S&P 500 dropped five and a quarter percent to finish. At 85. And -- market analysis tonight Jim Malone chief investment strategist -- adviser investments in the newsroom hi -- that. Well so much for an Obama off balance the enthusiasm surrounding this new administration did not spill over onto Wall Street Y."

" Well enough for the day -- Wall Street woke up to some very dire financial news coming from Europe the United Kingdom in particular. And it just reverberated throughout the financial system here bank America down 30% State Street also. With weak earnings and have a profoundly troubling forecast down over 50% on the news. And so what we basically saw today was a rekindling of all the fears that may be the bailout dollars so far have not been able to shore up. Not just US financial service system. But also the global financial system and as a result we are likely to do what we've been talking about doing and we retest the lows of early November until and unless we can get some sort of firmer foundation and belief. That this economy can get up ago. We soft financials fizzle also a big slide in technology stocks what happened there well technology is definitely. Always going to be weak and they were easy financial services weakening and that's because they're they're. Biggest purchasers. And so it doesn't take a rocket scientist to figure out if -- bigger biggest buyer of your goods and services is falling on its knees. You're likely gonna feel that impact and there's also continued weak earnings and forecasts we'll see that. Likely follow through for the next several weeks as earnings season begins to really gather steam again I can't imagine that if that's surprising to anyone. We expected the fourth quarter to be profoundly weak it will be. And so we will likely push through and back towards those November lows before we get up and Chrysler gets a lifeline from think. A strange place indeed especially in humans ever owned a -- knows exactly how reliable black car company's products are. And Chrysler's certainly getting a flight lease on life but there's no doubt that the US auto industry as a whole Chrysler and GM in particular. Are still in harm's way our market wrap tonight Jim Malone what advisory investment -- huge impact that."