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Dow Jones hates George Bush
Politics is in large measure a business of urban legends. The chief beneficiary of these is the republican party, an enterprise founded largely on myths. For example, despite the fact that the most devastating terrorist attacks in our history took place as one George Bush was reading a children's book, they're viewed as strong on terrorism. The demonstrable fact that their war on Iraq has hollowed out the military perhaps beyond repair, they're viewed as competent on issues of defense.
Most perniciously, the republican party that created the current financial and fiscal trainwreck is viewed as a competent steward of the economy.
Here's just an observation: when George Bush took office in 2001, the Dow Jones traded at around 10,659 points. At this writing, per the New York Times live market ticker, it's at 10,831, and dropping like a stone.
Maybe that's why Barack Obama has significantly outraised John McCain in the securities and investment sector. Wall Street doesn't seem to believe that the fundamentals of our economy are strong.
The exact numbers
Just for the record ('cause I'm a big believer in getting numbers accurately), the DJIA closed on January 19, 2001 at 10,587.59, and the market didn't open again until Junuary 22. (Jan. 20 was a Saturday, so it makes sense.)
My source is Google, of all things.
As I write this, the DJIA is at 10,757.85, less than 200 points away from where we started as Dubya took office. Some historical perspective:
The DJIA closing average on Jamuary 20:
1993: 3,241.95
1989: 2,235.36
1981: 950.68
1977: 959.03
In other words, the market didn't go anywhere (overall) during the Carter years, did well during the Reagan years (about 11% gain per year), did well during Bush41 (average about 10% gain per year), and had their best times during the Clinton years (about 16% gain per year). Now we're back to the "days of malaise."