If you were up and watching last night pre-open Dow, the US futures were looking sicko and heading towards 300 plus before the reserve bank made the call, stepped in (before market open) and calmed the nerves.
Some such as Faber suggest that the central banks should stay out for it will only delay the inevitable, a ‘major correction’.
Without offending, IMO - It could have easily been a minus 600 to 1000 point night. Across the globe the markets were all down on average 3%. The US was staring down the barrow of a 3% fall until the central banks stepped in.
Lucky hay!
what to do now: cash or invest, page-5
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