Through the eight Bush years, the Dow Jones Wilshire 5000 Index fell by an annualized rate of 2.3%. This makes George W. Bush the only president of the last five who has seen the stock market decline over the course of his presidency.
MarketWatch has a summary of market performance by president. President Obama, however, isn’t off to a great start. The Dow Jones Industrial Average just had its worst Inauguration Day in its 112-year history. The Dow dropped 332 points and the NASDAQ lost 88 points. Once again, the financial stocks felt most of the pain. Bank of America (BAC) lost 29% and Citigroup (C) fell 20%.
Obama has registered the steepest decline between his election and inauguration since 1933. I should add that FDR’s sell-off gave way to a 75% rally.