The markets have gone down today. After maintaining an upward trend for many many days (though within a range), they are looking to take a nose dive.
The reason? Same Subprime Mortgage bug is still not taken off.
Euroshares fall midday as Northern Rock's funding woes reignite credit concerns
Today, it’s the turn of the UK markets to collapse. UK mortgage lender Northern Rock sought emergency funding from the Bank of England, prompting renewed concern about the health of the global credit markets and the implications for economic growth
This the latest firm hit by the contagious subprime bug.
Anything mortgage, housing or consumer related is in the red. It is today down more than 25%. Infact anything mortgage, housing or consumer related is in the red.
Not sure how long will this continue and how much effect will this have on the indian markets. After US, Indian tech sector is heavily dependent on UK and Europe. Some downfall is expected, expecially because the Indian markets have been up for many days.
Let's hope for the best. 18th Sept is a major day for Fed Rate Cut decision. Nothing can be said by anyone till then....
Please read the comments and post your views and queries in the comments section which helps in open discussion and avoids duplicity of questions.
You may be interested in reading my previous articles. Here is the link to Table of Contents in a chronological order.
2 comments:
Looks like there is some issue with u r 'Table of Contents' URL.
Its not correct as it doesn't bring all your articles.
The URL which u have mentioned is
http://invest-n-trade.blogspot.com/2007/07/table-of-contents.html
and after clicking it brings incorrect list of articles.
Every crash is an opportunity to by. Am rubbing my hands will glee hoping that the market will crash.
So that i can do some 'cherry picking'.
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