Those of you waking up and checking here first, expect a rough day in the financial world this morning…. Stability if obtained by mid day, could show profits in the later half as cash sops up stocks at bargain prices… If still free falling after 12:00, it will be ugly; there is no backstop left barring Chinese intervention, which is rather unlikely.
Perhaps today we give another new meaning to the term Black Friday.
Blame can be placed Dubai World, for instigating the panic…..
kavips 
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November 27, 2009 at 8:07 pm
kavips
Friday morning U.S. stocks dropped sharply on these concerns and Dubai’s financials were in the thick of it.
Stocks were falling despite the lack of clarity on the news as investors fled risk and moved into the relative safety of the dollar and Treasurys.
Also falling for U.S. banking majors were Bank of America Corp. (BAC), down 2.2% to $15.61, JPMorgan Chase & Co. (JPM), losing 0.9% to $41.77, and Wells Fargo & Co. (WFC), down 1.6% to $27.38.
Morgan Stanley (MS) slipped 2.7% to $30.57 and Goldman Sachs Group Inc. (GS) lost 2.1% to $165.32.
November 28, 2009 at 11:49 am
Duffy
And the picture of Dick Cheney is there because….?
November 29, 2009 at 2:17 am
anon
Obviously Cheney’s there because he said Dubai….
November 29, 2009 at 6:52 am
Duffy
Riiiiiiiiiiiiiight. Makes perfect sense now .