Honestly I have no idea why the Dow is down almost 300 points today.
Investment banks; after LEH and GS now Morgan Stanley beats expectations and no significant write-offs. Sector calmed down --> positive
Resources: energy, metal and agriculture all down big which should ease the inflation pressure on the USA --> positive
Mortgages: Fanny Mae + Freddie Mac got more flexibility (some 200 bln US$) that should help the stressed mortgage market --> positive
Housing market: interest rates come further down which should help house-owners with their credit-rates with the vast variety of mortages somehow connected to interest rates --> positive
No significant bad news hit the market today and I couldn't find any other explanation than "profit taking"...any other ideas?
Lenni
why sell off today
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Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
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| DJIA (INDEXDJX) Chart |
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