Everyone is staring at their screens in disbelief | stockbee


Everyone is staring at their screens in disbelief

We are headed for a bad opening going by the futures. As of 6 AM all three indexes are showing 6% plus down move. We are now in really unknown territory. Just hold on to your nerves and wallet.

S&P 500 futures dropped 60 points to 855.20 and Nasdaq 100 futures fell 81.5 points to 1,172.00. Dow industrial futures fell 538 points.
The drop on the S&P 500 contract was so much that it triggered a halt in electronic trading.
Thursday's session for U.S. stocks was erratic but generally positive, with the Dow Jones Industrial Average closing 172 points higher and the S&P 500 rising 11 points, though the Nasdaq Composite slipped 11 points.
But that wasn't the case in Asia, where the Nikkei 225 tumbled 9.6% in Tokyo as Japanese traders got their first chance to react to Sony's profit warning, and the Kospi plunged 10.6% in South Korea. Europe stocks also were crushed, with the Dow Jones Stoxx 600 losing 6.6%.
"Everyone is staring at their screens in disbelief," said Tom Hougaard, a strategist at City Index in London.


David said...

I was reading Trader-X's blog this morning, and he had updates going on about the Asian Markets and Futures. I could not believe it.

What are the odds we rally and close up?


Pradeep Bonde said...

Very high.