Seems inevitable to me that markets (FTSE, DJIA, Nikkei, etc...) will be closed at some point. I think this is the week.
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Roubini article in the Times quite interesting:
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Across the world, governments have taken more and more aggressive actions to stop the panic. However, Roubini believes investors appear to have lost confidence in governments’ ability to sort out the mess.
The announcement of the US government’s $700 billion bailout, Gordon Brown’s grand bank rescue plan and the coordinated response of governments around the world has done little to calm the situation. “It’s been a slaughter, day after day after day,” said Roubini. “Markets are dysfunctional; they are totally unhinged.” Economic fundamentals no longer apply, he believes.
“Even using the nuclear option of guaranteeing everything, providing unlimited liquidity, nationalising the banks, making clear that nobody of importance is going to be allowed to fail, even that has not helped. We are reaching a breaking point, frankly.”
http://business.timesonline.co.uk/to...cle5014463.ece
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Unhinged
Spot on.
Market closure
Linear Mode
