Should be a very interesting Friday.
There doesn’t seem to be any overwhelmingly bad news out there. Nobody at the moment is contemplating the imminent disintegration of Europe or anything like that. And the economic news out of the US is far from horrible — nothing that seriously undercuts the idea of a recovery.
But markets around the world are selling off.
To start, Asia had a bad night.
- Nikkei fell 1.5%.
- Hong Kong fell 1.4%
- Shanghai dropped .5%
- Thailand — in the midst of riots — fell 1.2%.
As for Europe, we’re seeing big declines across the board, most notably in France, which is off nearly 2%.
Finally, getting here we’re looking at Dow futures off 50 and S&P futures off about 7 points.