After plunging nearly 40% in 2008, and opening 2009 with another 25% decline through early March, stocks embarked on a torrid--but bumpy--run near the end of the first quarter. The Morningstar U.S. Market Index pared its losses and was down 10% for the year by March 30.
The markets responded poorly to the Obama Administration's initial attempts at managing the credit crisis, plunging precipitously in February after Treasury Secretary Timothy Geithner's economic plan seemed to lack focus and clarity. In March, the markets responded more favorably to the administration's plan for a Public-Private Investment Program (
) establishing funds to create a market for impaired assets on bank balance sheets. As the quarter wrapped up, however, the markets hit some turbulence as the government rejected automakers' viability plans and indicated that bankruptcy was an option () for 
GM GM and Chrysler. Click here to read more.
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