As far as the market is concerned, Barack Obama's first hundred100 days do not compare
with Franklin D. Roosevelt's in 1933. As Obama's 100 days come toan end, it is touch and go whether the S&P 500 stock index will be up or down compared to with his inauguration day.
Under FDR, the index gained more than 70 per cent over the period, even though he started with the drastic action of closing the banks and the markets for a “holiday”.
The drastic remedies, and the accompanying volatility, of the Depression gives some context to the drama of the last three months, which has seen the market sell off by 25 per cent and then gain it all back.
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