Wednesday, November 5, 2008

Stock Markets in Trouble Again?

AP says:-
Stocks plunge anew as recession worries resurface
Wednesday November 5, 6:29 pm ET
By Sara Lepro and Tim Paradis, AP Business Writer

Wall Street falls sharply as investors, worrying about recess, ponder Obama impact on economy NEW YORK (AP) -- A case of postelection nerves sent Wall Street plunging Wednesday as investors, looking past Barack Obama's presidential victory, returned to their fears of a deep and protracted recession. Volatility swept over the market again, with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.

HONG KONG, Nov 6 (Reuters) - Asian stocks fell sharply and the yen rose on Thursday as more evidence that the U.S. economy is shrinking made investors brace for a potentially deep and lasting global recession.

My View:
I told here yesterday analyzing the up move as that was a suckers' rally and a case of irrational exuberance. Yesterday all mainstream media was describing the up move in markets like a magic by Obama, which eventually lasted only few hours. The fact is global economic troubles are beyond the comprehension of mainstream media and way beyond that of "common investors".

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