Dax Stocks Germany
Dax Stocks Germany
Stocks Drop on Market Open
This morning, amid doubts of the European debt crisis, equities across the board have opened lower. As noted in my last post, the European markets all finished low, with Germany’s Dax finishing down 1.3%. Investors across the U.S. markets remain timid while European decision making continues and domestic markets swing wildly. The Dow opened down .33, The NASDAQ opened up 2.93 and the S&P opened down 3.03. The Euro is also at 1.22 against the dollar.
Although the main stream media has hinted at it, the elephant in the room is still the longevity of the Euro. While Germany, England and France all remain very powerful economies, there is only so long that they will drag their nagging younger siblings to the party. China, never one to mince words, has voiced its opinion concerning the Euro zone crisis, casting doubt on the demand for their cheap exports, and putting the brakes on the overall recovery of the world economy.
Particularly, the UK has their own problems to deal with including the British Airways Strike, volcanic eruptions, and oily sea creatures washing up along the gulf. The country was firm in its stand in keeping the British Pound as its currency and is the closest in Union to dissolving its association should any further crisis occur. Once the UK leaves, its all over. I myself passed through Heathrow on Sunday, the place was a complete zoo with travelers attempting to desperately beat the strike on Monday. My flight was packed back to Miami.
The equities market has been stretching heavily for the past 6 months with many calling for a 10% to 15% correction. I would expect a further slide in markets due to another unseen event in the near future to further the drop, the market still has room to fall.
To view this article at World Market Media click on the link below: http://www.worldmarketmedia.com/779/section.aspx/1597/post/stocks-drop-on-market-open
Breaking News Germany: 2011-12 German Stock Market Crash, October 3, 2011 09:05 PM
