Fears of Recession in Europe & the U.S. Will Bring a Downturn in the Markets, Important Update

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LATEST UPDATE, FRIDAY, 10:47: Did the Feds start the market crash with a story in the WSJ about the “Feds eyeing cash in European banks in the U.S.,” and, if so, why? Did the Feds plant the story to get support for a new monetary policy such as QE3 – could this be the reason the President is not coming out with his new “ideas” until after his vacation?

The WSJ would never come out with a story like this, knowing its likely effects on the market, unless they had the information from the highest echelons (which they would double check and triple check). So, did the Feds plant the story so the markets would bomb? It leaves open the possibility that Obama, who is on vacation at a strange moment in our stock market history, can come back as the savior. with a suddenly acceptable monetary spending plan.

Look at the immediate consequences. Click for more information.

Friday Update: U.S. Futures pointing to a sharply lower open as recession worries continue into Friday. Gold blasts past $1850. European shares sank to two year lows,Nikkei ended -2.51%,China -.98%

Germany has refused to back the Italian bonds and their own GDP is at a standstill during the 2nd quarter. Since Germany has been bailing out the entitlement PIGS (Portugal, Ireland, Greece, and Spain),£ that does not bode well.

The Nikkei slipped over global growth concerns. Hang Seng fell -272.76. Jobless claims  rose slightly in the U.S. The Swiss franc fell. German stock fell by as much as 4%. See the breakdown here: Bad omen for the stock market today.

EUROPEAN INDICES from Reuters –

Data as of 18 Aug 2011. All quotes delayed at least 15 minutes.
Symb Index Mkt Report Time Last Chg Chg %
.TRXFLDGBP Thomson Reuters Equity UK Index 9:06am EDT 96.07 -2.99 -3.02%
.TRXFLDDEP Thomson Reuters Equity Germany Index 9:06am EDT 103.04 -4.23 -3.94%
.TRXFLDFRP Thomson Reuters Equity France Index 9:06am EDT 99.16 -3.41 -3.33%
.FTSE FTSE 100 Index View 8:51am EDT 5,184.67 -146.93 -2.76%
.FTMC FTSE 250 Index View 8:51am EDT 10,060.22 -309.20 -2.98%
.FTT1X FTSE techMARK 100 Index View 8:51am EDT 1,861.42 -54.49 -2.84%
.GDAXI DAX Index View 8:51am EDT 5,721.87 -227.07 -3.82%
.FCHI CAC 40 Index View 9:06am EDT 3,143.68 -110.66 -3.40%
.SSMI SMI Index View 8:36am EDT 5,273.32 -147.89 -2.73%
.SMSI Madrid General Index 8:50am EDT 854.30 -29.84 -3.38%
.OMXSPI OMX Stockholm All Share Index 9:06am EDT 289.25 -12.45 -4.13%
.OMXHPI OMX Helsinki All Share Index 9:05am EDT 5,419.65 -230.61 -4.08%
.OMXC20 OMX Copenhagen 20 Index 9:06am EDT 359.09 -10.93 -2.95%
.OSEAX Oslo Exchange All-share Index 8:51am EDT 413.08 -13.65 -3.20%
.ISEQ ISEQ Overall Index 8:51am EDT 2,482.75 -83.47 -3.25%
.BFX Bell 20 Index View 9:06am EDT 2,171.73 -82.98 -3.68%
.AEX AEX Amsterdam Index View 9:06am EDT 283.30 -9.35 -3.19%
.IBEX Ibex 35 Index View 9:06am EDT 8,410.40 -317.80 -3.64%
.BVLG PSI General 16 Aug 2011 2,421.77 +24.10 +1.01%
.STOXX50 DJ Stoxx 50 ETF View 15 Aug 2011 2,245.75 -2.63 -0.12%

 

 

 

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