Thursday, October 22, 2009

Global markets

The US market took a nose dive yesterday afternoon and sold off on pretty high volume. This caught many by surprise because option expiration generally means the market will pin around a round number (like 1,100 for the S&P 500). This sell off has continued around the globe overnight and most major markets are down 1.5-2%.

At least those Dow 10,000 hats will get a workout on CNBC as we oscillate around Dow 10k.

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