Posted on 10/12/2010 9:51:46 AM PDT by FromLori
World markets fell sharply Tuesday after a leading U.S. rate-setter dampened expectations that the Federal Reserve is preparing a massive monetary stimulus next month and amid mounting speculation that China is planning to raised reserve requirements for banks to cool lending.
In Europe, the FTSE 100 index of leading British shares was down 22.71 points, or 0.4 percent, at 5,649.69 while Germany's DAX fell 45.28 points, or 0.7 percent, to 6,264.23. The CAC-40 in France was 29.31 points, or 0.8 percent, at 3,739.18.
In the U.S., the Dow Jones industrial average was down 92.91 points, or 0.8 percent, at 10,917.43 soon after the open while the broader Standard & Poor's 500 index fell 8.96 points, or 0.8 percent, at 1,156.36.
(Excerpt) Read more at abcnews.go.com ...
There ya go.
Wall St. only cares that the Govt. spigot remain open on Full.
That gives me a clue as to why the DOW average keeps going up
Anyone who watched 60 Minutes last Sunday and dares to buy another share of stock is a fool.
I missed it. In a nutshell, what was their contention?
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