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UPDATE 10:14:A day that’s been ugly ever since the early morning continues to get uglier, as markets are plummeting around the world.
Most notably, the Dow is off 200 230 248.
The NASDAQ is at a 2.5 month low.
What’s going on?
It’s hard to pinpoint any one thing, but there are some ugly earnings (DuPont most notably) and jitters about Bernanke not stocking around, weather Romney wins or not.
UPDATE 9:30 AM ET:
The market has opened down over 150 points.
ORIGINAL POST: You can get a full roundup of what’s happening in markets this morning here, but the basic gist is: Markets tumbling everywhere, lots of weak earnings.
First, the markets: Dow futures are off about 130 155, and the major indices are all down a little over 1%.
It’s ugly in Europe as well. Germany is down 1.4%. Spain is down 1.1%. Italy is down 1%.
As for the micro, there are lots of ugly earnings this morning.
Dow Component DuPont is down 6% after a big whiff. 3M also cut its outlook. The stock is also off a few per cent. There were also ugly reports in the UK, as luxury goods maker Mulberry announced an earnings warnings.
Then there’s also the fact that there are hints that Bernanke won’t stand for re-appointment in 2014.
So far, today isn’t a disaster — markets fall 1% all the time — and this just gets us back to where we were yesterday during the day. Still, a squishy day.
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