10/24/08

Futures off 6.5%: Look out Below!

U.S. futures are trading down 6.5% -- thats limit down on S&P Futures -- the percentage trigger where trading halts has been hit.

Looks like quite the free fall this morning -- Dow Futures off 5%, following the announcement of a contraction of GDP in the British economy. A global sell off has ensued.

Stocks tumbled around the world. South Korea's Kospi Index sank 10%; Japan off about 10%, and Europe Indices fell about 6%. The MSCI World Index lost 3.6%. Europe's Dow Jones Stoxx 600 Index slid 6.3%, and the MSCI Asia Pacific Index sank 6%.

Read on...

Just a quick post here from The Big Picture to mark an historical event. Futures trading has been halted. There is speculation that the market may not open. Peacenik doesn't know what to say.