London down 3.2% – 170 points
Tokyo down 3.1% – 330 points
Frankfurt down 3.2% – 193 points
Paris down 4.6% – 164 points
Dow down 1.77% -187 points
Losses everywhere are not only continuing but accelerating. They’ll pull back in late trading no doubt. But confidence? I don’t think so
Yesterday the NYSE tried to tell the world that the collapse was due to a ‘rogue trader’ who punched in the wrong figures on a trade. You know someone ought to arrest that fool soon. That must be the third or forth time that idiot has screwed things up for everyone else!
Today the US employment figures were released. They said 290K jobs added but unemployment didn’t go down at all? Turns out the jobs added is bogus. It included birth /death numbers. Actually only 36K jobs were added.
Do you think it possible some of the curtain of lies is developing a tear in it?
I think the FTSE is headed under 5000 the Dow under 10k. the Nikkei is in trouble. Bank stocks are hurting.
And this is with the German parliament agreeing to the bail out. Of course the first tranche of cash is small. AND a group of German law professors said they would file suite in German court to challenge the legality of the bail out. If such a move were to hold up the bail out then Greece is cooked anyway.
The UK is going to get hammered when it becomes Oh so clear there is no mandate nor working parliamentary majority to jump when the market says so.
And let’s see what happens to Merkel’s party in the regional election in a few days.