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Keep this in mind as next week starts. Cramer can’t decide if this market is closer to 1987 or 1929, but he’s pretty sure bad news from Morgan Stanley and lack of good news from the world’s industrialized nations could cause a sizable drop in the markets on Monday and Tuesday. The Dow could go as low as 5,886, he said.
The International Monetary Fund (IMF) has estimated losses from the credit crisis could reach $US1.4 trillion, or about double what banks have written down so far.
That would leave a gaping hole on balance sheets and restrict already tight lending.
"We should not imagine that we will have a harmonised response that will be the same for everyone, quite simply because you cannot apply the same method to market situations that are different," French Economy Minister Christine Lagarde said earlier.
Originally posted by noobfun
i think the term black (add every day of the last couple of weeks at least) is loosing its relavance
black friday etc were used to describe 1 day of mass screwups we need somthing different to cover this long and spiraling slope
Originally posted by Contagion2012
Will there even be trading on Monday in the US? I thought we were on holiday. Or is Columbus Day the following week? Gotta love those ignorant, meaningless holidays. Considering North America had been discovered at least a half a dozen time before him, lol.