Asian Markets Tank: Expect U.S. Stocks to Tumble on Black Friday
James | Nov 27, 2009 | Comments 7
Well while some of you are out shopping at 5 AM looking for great deals on Black Friday the stock market should be tumbling, yes taking a huge drop. With the
new implications linked to Dubai’s debt global investors are scared and the sell-off began in the Asian markets along with the U.S. futures falling over 3% roughly around 300 points. In Japan they experienced the worst single day drop in over 8-months so don’t expect the U.S. markets to be any better as we have yet to here the full extent of the situation. Yes, unfortunately part of the sell-off is directly correlated to the little information we have about the whole situation and due to the religious holiday in the Middle East it will be a couple days before we learn more. Don’t want to worry you to much but expect a downfall and don’t try to sell as there is little you can do now as the futures have already dropped. A drop was expected however as I explained in this weeks article, Time to Take Profits: Too Much Government Involvement Will Ruin the Economy. Unless you sold off earlier this week on’t sweat it take the loss and bounce back next week. Remember there is always a Bull Market somewhere. Enjoy the weekend!
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When you have a Holiday,the trading lags,thus stocks will have a bad day,based on my experience.
Last year,including this one as well,we had July 4th falling on a weekend.As you can see the market was sluggish.
The Stocks may slide a little. Don’t think they will tumble through the floor.
Lets see how the land lays next week. {:)
Updating @ this time :
A morning network show is concurring !
Its unfortunate they released this news right after a holiday but we will make it work.
Agree.
Now it has shifted to the consumer spending(Black Friday shopping and beyond 2 Christmas).
Don’t want to see this as a burden,but a temporary setback.
Temporary setback is exactly what I hope it is.
[...] expect the U.S. markets to be any better as we have yet to here the full extent of the situation. Asian Markets Tank: Expect U.S. Stocks to Tumble on Black Friday | Stocks on Wall Street __________________ Interested in Financial News, Market Updates, and Hot Stock Picks? Then [...]
Looks like it will be a bad day on Wall Street especially after the Holiday.