Look Out! It`s Friday, Global Markets Are Tanking, Where`s The U.S. Headed?
U.S. stock futures are off considerably, global markets are tanking, and it's Friday. None of this bodes well for the opening of the US markets. Brace yourself, it looks like the markets will be rockin' and rollin' today.
"European markets got off to a terrible start. Within the first 10 minutes of trading, London's FTSE, the CAC in Paris and the XETRA DAX in Frankfurt, Germany, had all sloughed off about 10% of their values ......
Asian markets ended lower. The Nikkei Exchange in Japan closed down 9.6%.
Meanwhile, the Australian All Ordinaries index closed more than 8% lower and South Korea's KOSPI index finished the day off 4.3%.
Hong Kong's Hang Seng index was down about 8% in afternoon trading and Mumbai's BSE SENSEX was down 7.4%." - Money.Cnn.Com
Labels: crash, economics, real estate news, stock futures, stock market
posted by PropertyQwest.com @ 4:38 AM
3 Comments
3 Comments:
It seems the core issue is whether the US automobile industry can survive in this current credit market crisis which my guess is no. If the market was truely free they would have to declare bankruptcy with their high deficita and underfunded pension liability on their balance sheets. Is the government going to nationalize the likes of Ford and Chrysler or the top banks in order to protect a couple million workers? Only time will tell but don't look for the markets to settle anytime soon.
Did either of you see the article on CNN.com about GE? Very interesting on how bad GE is struggling and got Warren Buffett to loan them money to boost confidence in investors by showing that Warren Buffett is interested.
No I didn't get a chance to read about GE being saved by Buffet. The thing I like about Buffet is he isn't just interested in making money but doing things that will help the country as a whole. Unfortunately Buffet can't lend to the all the companies in trouble to give the market confidence - or maybe he can.
Post a Comment
<< Home - Property Qwest Blog