UPDATE AT 2:50:
WIth a little more than an hour to go, markets are getting kileld even more.
The Dow is off about 240. The NASDAQ is down 3^, and the S&P 500 is down 2.6%.
All day has been a continuation and acceleration of the concerns that really got rolling in September, especially on the bank front. Morgan Stanley is down nearly 7%. At rival Goldman Sachs, CDS have hit their highest level since October 2008.
Bank of America is off over 8%.
Meanwhile, the euro is getting crushed, falling below $1.32.
UPDATE: Since our initial post, the market’s gotten much worse, with the Dow of over 200+, NASDAQ down 2% 2.4%, and major selling in the bank stocks.
Morgan Stanley, which got killed on Friday, is down about 6% 8%.
Bank of America is off 5%.
Citigroup is off 5%.
Another huge loser today is airline AMR, which is off 38% on bankrupcty rumours.
The market is so revolted by risk right now, that even good economic news (which we got today) is having no positive effect.
ORIGINAL POST: Here we go again.
The selloff is on.
Major markets are off 1.5%.
The Dow is off about 100.
Financials are tailspinning.
Morgan Stanley, the big worry from last week, is off 1.4%.