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  • Preview from Europe: Fear Trumps Hope as Dow Falls Below 8,000 [View article]
    In my mind, it is clearly the global financial crisis that strikes fear and terror into this market. While banking and the real economy are intertwined, yesterdays action was driven by the former.

    The comment by Roubini, State Street earnings, a report the BAC would need an additional $80 billion of capital and the international stories all contributed to the massive sell-off.

    Credit will not thaw until the global credit crisis is resoved and it is my belief the host of measures already taken will prove insufficient. Sorry for being such a pessimist.
    Jan 21 08:52 am |Rating: +1 -2 |Link to Comment
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