Given that the Russian exchanges hit their circuit breakers earlier today following a 15% plunge, I suppose it's not surprising that markets took one on the temple right off the bat. S&P 500 futures had a 1-2% drop figured since they opened yesterday at 6:00 pm, but that didn't stop the actual index from heading down 2.5%, quite a bit below the active futures contract at the moment, as quickly as it could in the last fifteen minutes. It's looking like a grim day. Perhaps we need some more song and dance on the NYSE floor? Grasso wouldn't let this gloom pervade The Street if he were here today.
Russian stock markets suspended [The International Herald Tribune]
Posted by Henry Ryecroft, Oct 06, 2008 9:58AM
Sing along everybody.
http://www.youtube.com/watch?v=frAEmhqdLFs