Posted on 08/17/2009 1:46:47 AM PDT by TigerLikesRooster
Stock futures signal sharp drop after Asia selloff
On Monday August 17, 2009, 4:28 am EDT
PARIS/LONDON (Reuters) - Stock index futures extended their losses early on Monday, mirroring a selloff in Asian and European stocks on mounting worries the equities' recent surge had run ahead of the global economic recovery.
At 4:18 a.m. EDT, futures for the S&P 500 were down 1.92 percent, Dow Jones futures were down 2.11 percent and Nasdaq 100 futures were down 2.11 percent.
Chinese stocks (^SSEC - News) sank 5.8 percent to their lowest close in two months on Monday on worries about added share supplies and commodity price declines, while Japan's Nikkei average (Osaka:^N225 - News) fell 3.1 percent as investors locked in profits after gross domestic product data failed to produce a positive surprise.
(Excerpt) Read more at search.finance.yahoo.com ...
Ping!
Gloomy economic forecast, so what does CNN broadcast about this? NOT A WORD - they talk glowingly about Japan’s economy rebounding. Yeah, just a bit, prior to stocks falling today.
Green shoots!
I’m hoping most people were smart enough to sell off during the rally and sitting on cash right now.
Is this the beginning of the end? I was thinking Sept or Oct.
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