This is why I am getting concerned, Dow futures were way up...

This is why I am getting concerned, Dow futures were way up earlier and now they have retraced. I will be watching Europe with great interest tonight. I may be concerned over nothing but I have seen it affect things before in US.

"From Times Online
November 30, 2009
Dubai and Abu Dhabi shares plunge on debt crisis
Hugh Tomlinson in Dubai

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Shares across the United Arab Emirates (UAE) tumbled today by over 7 per cent as investors reacted to Dubai's debt crisis.

After the four-day religious holiday for Eid al-Adha, today is the first time investors have been able to trade shares following last week's announcement from the Dubai government that Dubai World, the state-owned conglomerate which owes $59 billion of the country’s $80 billion debt pile, would have to delay repayments on its borrowings.

Abu Dhabi shares fell 7.6 per cent to 2,688.47 in early trade and while Dubai’s benchmark slid 5.9 per cent to 1,968.82, with banks and building stocks leading the declines.

Shares in Emaar Properties, the property group behind the Burj Dubai , the world’s tallest building, fell 9.86 per cent to $3.75 in early trading. "


http://business.timesonline.co.uk/tol/business/markets/article6937312.ece