Bloody Friday?
Is the US stock market in jeopardy of a major plummet today? The futures index touched its maximum allowable low of 550 points this morning, meaning we are set for a major drop in stock prices at the opening bell.
Marketwatch.com is reporting, “Asian markets were mauled Friday, with Japanese, Indian and South Korean indexes slumping more than 9.5% each to end below crucial psychological milestones as fears of a global recession swept across the region. Benchmarks in Hong Kong, Australia, Singapore and Taiwan dropped to their lowest levels in at least three years. Japan’s Nikkei 225 Average sank 9.6% to end at 7,649.08, a closing level it hasn’t seen since April 29, 2003. The benchmark is now valued at less than a fifth of its all-time high of 38,915.87, which it touched in December 1989.”
Both presidential campaigns will most likely take up this issue today on the campaign trail. While Obama is in Hawaii with his ailing grandmother, his campaign, its surrogates and his running mate are all still out today talking with voters.
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