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He added that he is gloomy about prospects for the stock market and thinks London and Wall Street could drop 10 per cent between now and June.
Stock Futures Forecast Heavy Losses
If futures contracts traded on a day when U.S. stocks weren't even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower.
March contracts on the Dow Jones Industrial Average traded 353 points lower to 11,753.
The S&P 500 futures fell 55 points to 1,270.10 and the Nasdaq 100 futures lost 72.25 points to 1,777.25.
Originally posted by OBE1
The surface crises began with mortgage defaults, but the real monster is still hiding below the water-line. I believe that the Whitehouse is smart enough to know that their so called stimulus package isn't gonna cut-it...Wall St. wasn't fooled. I think it's simply a short-term, very public attempt to inspire confidence, and prevent all-out panic in the financial sector.
Originally posted by Harlequin
Question - whats the legality of them saying `no you can`t have your money back` to people?
But, the world is now more sophisticated and prepared to march toward a world government. The super-national sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries."
Originally posted by infinite
Well, I really don't know what to say anymore about our economies.
I really hope for a rally tomorrow, but seeings the US market is closed, it's not likely...I just hope we don't see a double digit plunge tomorrow (trust me, it's likely).