While all of the focus has been on European and American economies, the forgotten continent has been Asia and what effect the struggling world economy would have on China's growth.
Action by major international central banks to provide liquidity to struggling European banks pushed Chinese blue chips higher but gains narrowed after the Hang Seng Index hit strong resistance.
Uncertainty in the European Union's financial health helped to spark an international sell-off today, hammering U.S. equities as the market returns from the holiday weekend.
Financials were mixed today as a delay on a vote from Slovakia in support of the financial measures for European banks casts another shadow of doubt on the global economy.
US stock futures point to a higher open Thursday after Germany's lower house of parliament voted to approve enhanced powers for the European Financial Stability- the Euro Zone's Bailout fund.
A toxic combination of fear of a flare-up in the European debt crisis, short-term speculation and a market closing on Tuesday for a holiday led to a major sell-off Monday for China Stocks in Hong Kong.
Faiure of European finance ministers to tackle the region's debt crisis was one big factor, along with a rise in Hong Kong mortgage rates and a drop on Mainland markets.
China and Hong Kong stocks plunged along with other global markets on fears of a sagging U.S. economy and spreading European debt crisis. Turnover almost doubled from recent levels in the rush to get out of the market.
Economic indicators suggest economy is weakening. Big crunch at open setting stage for test of last week's lows and a buying opportunity in a month, six weeks.
Hong Kong rebounded strongly from Tuesday's massive decline, following U.S. markets higher. Blue chips broke back above the 20,000 level at one point but fell back on profit-taking.
Stocks fell steeply today as key economic numbers and the European financial crisis continues to scare off investors. Gold continues its advance to new highs, while oil drops.
Buyback of Warren Buffett's Berkshire Hathway Fund and promises from Europe surrounding bolder action to help bolster the current credit situation enlivened the financial sector today.
A resolution of the Euro-zone debt crisis stands to spark a big rally in global securities. US markets need help from the economic indicators, i.e. - no recession...
European debt crisis plus the possibility of a U.S. recession are combining to produce a major buying opportunity at current levels, or a plunge below DJIA 10,000.
The European Union's financial crisis and bailout strategy of Greece has been a cause for concern. Elsewhere, Netflix shares fall further on news of split up growth plan.
Expect volatility today and tomorrow as futures and options positions are squared. Economic news was so-so, European news OK. Could be a 120-point plus day.