Asian stock markets continued their slump Thursday, but European shares gained some ground. The Nikkei dropped .6%. Hong Kong’s Hang Seng index stumbled 1.1 percent to 19,558.78
Oil prices hovered below $83 a barrel,and the dollar slipped against the yen and the euro.
Britain’s FTSE 100 rose 1.9 percent to 5,104 in early trade while Germany’s DAX was 2.3 percent higher.
The roller coaster ride will continue today. As long as we don’t have any more bad news, we will probably repeat more of Tuesday, not as much Monday or Wednesday, but it’s going to be a bumpy ride. Nothing has happened to change that. We need leadership. QE3 is coming but that’s a temporary and dangerous fix.