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.