Two ways of looking at this....
The Fed minutes were dated before they acted to cut the discount rate by 50 basis points to calm borrowers in the height of the sub prime crisis two weeks ago. So is the sell off just because of notes contained in a Fed meeting, or are there much deeper issues with the US economy?
Read this story on home values in the US. Property prices often tell the real story of the strength in an economy and alarm bells are ringing loudly.
http://www.marketwatch.com/news/story/us-home-prices-fall-record/story.aspx?guid=%7B02A14CEF%2D2941%2D4404%2D8056%2D418DDA9F0330%7D
usa market internals stink, page-2
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$63.53 |
Change
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Mkt cap ! $12.31B | |||
| Open | High | Low | Value | Volume |
| $64.71 | $64.80 | $63.32 | $24.41M | 383.4K |
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| No. | Vol. | Price($) |
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| 2 | 1431 | $63.52 |
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|---|---|---|
| $63.54 | 890 | 1 |
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