Brutal start seen for Wall Street - Future Trade Limited

Brutal start seen for Wall Street - Future Trade Limited

money.cnn.com

NEW YORK (CNNMoney.com) -- A wave of anxiety about a global recession was set to reach the United States at Friday's Wall Street open, with limits imposed on futures trading after they fell more than 6%.

"Today might be the day where everybody throws in the towel," said Peter Cardillo, chief market economist for Avalon Partners. "People are saying 'I've had it, I can't take it anymore, I'm selling everything.'"

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An emergency measure of limiting futures trading has been imposed after Dow futures fell more than 6% or 548 points.

In Asia, equity markets lost over 9%, while in Europe, stock exchanges are losing about 7-8%.

Furthermore, the UK is at the brink of recession and its economy shrank during the last quarter.

This is getting bloody...




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