Fears about the outlook for the world economy have overtaken
The trillion Euro Dollar dream wiped out ?
The trillon Euro Dollar trash worked for one day. Traders cashed in , the people paid. No new economy created. Thousands of new small SME enterprises without money, no jobs. What will the Dinosaurs of Wall street eat next ? To make decissons buy / sell still on US consumer confidence seems antiquated, as the whole stock market became useless for Mr. Miller and Ms. Miller, who sought to help their country, by investing in Wall street for their pension savings, now blowing in the wind.
Traders are losing little day-by day confidence
"Sentiment is deteriorating very fast. People are losing what little confidence they have on a day-by-day basis," said Jacky Choi, a Hong Kong-based fund manager at Value Partners Ltd., which manages about US$5 billion in Asia. "Everyone is very worried about the economy in the U.S and around the world."
In New York Wednesday, the Dow Industrial average ended down 733.08, at 8,577.91 — the biggest percentage drop since the 8 percent drop on Oct. 26, 1987, which followed Black Monday, the Oct. 19 crash that sent the blue chips down 22.6 percent in a single session.
The massive selling accelerated as the U.S. Federal Reserve Chairman Ben Bernanke warned in a speech Wednesday that patching up the credit markets won't provide an instantaneous jolt to the economy.
OIL down $ 73, Brazil down
Oil prices continued to fall. Light, sweet crude for November delivery slid to US$73.
European markets sank Wednesday, with Britain's FTSE 100 index dropping 7.2 percent to 4,079.59, while Germany's DAX ended down 6.5 percent at 4,861.63
In Latin America, too, stocks plunged. Brazil's Ibovespa stock index sank 11.4 percent to 36,833. The sell-off triggered an automatic 30-minute suspension of mid-afternoon trading. Argentina's Merval index plunged 12.2 percent.
China is doing well. India's dream on hold.