Stocks Hammered Again As European Bank Fears Reignite

NASDAQ May 7

UPDATE: As of 11:11AM, the markets have come back a bit.  Down down -85.

EARLIER: It’s starting over.

The NASDAQ is what’s really getting crushed, down over 3%.

The Dow is moving around, but down over 211.

Euro stock markets (and the currency) are getting really hammered. The DAX is off over 3%.

The talk about European bank liquidity is intense — and bear in mind that this comes after an emergency G7 call designed to calm fears.

Pressure is definitely growing on ECB chief Jean-Claude Trichet to pull out the nuclear option — direct buying of Euro sovereign debt.

 

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