World Stocks Tumble; US Futures Down Over 2 Percent; Brace for a Stormy Week

posted by Nima

August 17, 2009 · Posted in Investing 

Tonight, news are coming in from across the world about collapsing stock markets:
- The Nikkei is currently down 3.1%
- The Hang Seng is down 3.6%
- The DAX is down 1.9%

US Futures are pointing down big time:
- The S&P500 Future is down 1.9%
- The Dow Jones Future is down 1.7%

Most of the fantasy news that suggested speedy recovery, stabilizing home prices, and a return to US consumer behavior as we know it have been depleted. There is, on the other hand, lots of terrible news to come. From industry data, to a potential insolvency of the FDIC and an ensuing request for another $100 billion from the taxpayer, this week will certainly be a turbulent and volatile one.

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