Ready for a BLACK Friday of a Different Sort? Stocks about to get slammed
Dubai Debt Rattles Confidence in Persian Gulf Borrowers
Dubai is shaking investor confidence across the Persian Gulf after its proposal to delay debt payments risked triggering the biggest sovereign default since Argentina in 2001.
http://www.bloomberg.com/?b=1
Stock Futures down -173
http://www.bloomberg.com/markets/stocks/futures.html
Dubai default fears spook investors
By Jamie Chisholm, Global Markets Commentator
Published: November 26 2009 07:09 | Last updated: November 26 2009 19:35
19:25 GMT. Global stock markets endured heavy selling on Thursday as investors were spooked by the spectre of a default by Dubai and after a febrile foreign exchange market saw the yen surge to a 14-year high against the dollar.
The turmoil caused a flight to less risky assets. Gold, which had challenged $1,200 in Asian trading, fell back from its highs and money flowed into havens such as German government bonds.
EDITOR’S CHOICE
Lex: Dubai World - Nov-26
Fears rise over Islamic bonds - Nov-26
Jitters spread through Middle East - Nov-26
Footsie has biggest daily fall for eight months
- Nov-26
Banks slump on fears of Gulf exposure - Nov-26
Pressure mounts over $4bn sukuk - Nov-25
US markets are closed for the Thanksgiving holiday, but electronic trading of the benchmark S&P 500 equity futures contract showed a potential drop on Wall Street of 2.2 per cent.
In Europe, the FTSE 100 lost 3.2 per cent at 5,194.1, its worst day since March, while the FTSE Eurofirst 300 fell 3.3 per cent to 988.1.
http://www.ft.com/cms/s/0/554a5c30-da50-11de-9c32-00144feabd...
Investors buy out US Mint of Eagle coins
Government suspends sales of bullion coins
http://www.ft.com/cms/s/0/393e551e-daaa-11de-933d-00144feabd...
Europe shares suffer biggest 1-day drop in 7 mths
http://us.rd.yahoo.com/finance/external/reuters/SIG=118cks9u...
Happy Thanksgiving!
