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As Fifi Goes, So Does the Market

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Reasons why the Dow, Nasdaq and S&P are all down over 1% today.
1. Disappointing earnings from Google, Caterpillar and Ericsson mixed with subprime worries and the flight to quality represented by the Treasury yield falling below 5%.
2. News that Dick Cheney will be in charge of the country this weekend for several hours while George Bush gets a colonoscopy (get out of U.S. markets before Dick bombs Iran, the New York Times offices or an abortion clinic (or all three)). Or the news that after the procedure, having clean innards and a polyp-free environment will bolster Dubya's ability to make those "from the gut" decisions.
3. The passing of Fifi, one of the world's oldest chimpanzees at age 60, in Sydney's Taronga Zoo.



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