Posted on 05/21/2010 5:56:08 AM PDT by Bigtigermike
Stocks have continued to come under pressure after large falls on Wednesday and Thursday, with banks and oil stocks hit hardest.
Financial markets are jittery about the eurozone debt crisis.
European finance ministers are meeting this afternoon in Brussels to try to boost faith in the euro.
David Jones, chief market strategist at IG Index, told Sky News that the markets were waiting to see what EU ministers plan to do to restore confidence.
"The hope is we will get a bit more clarity about what is being done." he said
A slew of bad economic data from Germany and the US has also added to the markets' nervousness.
"At the moment everything is just negative and it is weighing heavily on the markets," he said.
The FTSE 100 index has lost more than 14% of its value since debt fears surfaced in mid-April.
(Excerpt) Read more at uk.news.yahoo.com ...
Ramming Speed!
Me thinks it’s gonna be an ugly day on Wall St.
How are futures?
Holding my breath for the drop...
Down........
And, in other news, I went to my coin shop Thursday afternoon. I’m used to being the only one in there, along with the proprietors (elderly couple) and their two pups.
Much to my surprise there were 4 people in there. A youngish couple and two adult men. Should have known something was fishy when I had to find street parking. (Small place, a converted home, only a couple parking spots)
I never knew they took phone calls for prices, etc, until Thursday because I’d never heard the phone ring in the couple of years I’ve been going there. The phone rang every five minutes, asking hours, prices, etc.
Not sure what’s going on, but something surely is.
My coin guy says he’s getting some new customers and his regulars continue to buy.
One more thing (hit the Send button too fast)....
Thursday was the first time they had up the following homemade sign:
“Cash only. No credit cards, no checks.”
Prior to today, they accepted everything as payment.
Is your guy a cash guy, too?
Me, I’m glad. They never ask for names or ID or anything. And prolly like you, I’m not anxious to be on any PM list. I’m paranoid; I don’t wanna give out any info, as I don’t trust this gov’t in power one bit.
He is happy to accept cash.
I’ve never asked if he takes check or credit card.
I’m a privacy guy too.
Okay, let’s all sing - “How low can you go? How low can you go?”
aren’t we all?
;)
We spent tomorrows money today and now tomorrow is very close and we won’t have any.
I went in to a local pawn shop yesterday and noticed every silver Franklin half dollar had vanished since I was in there two days earlier. At $10 a pop every since one, nearly two full display trays worth. Fear is in the air...
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