Counterparty fear reared its ugly head with regard to European banks last night, triggering a global financials-led rout. Dow down 419.
It went up and ran out of buyers, so it went down but ran out of sellers. Is it time to finally take that holiday? Dow flat.
The results of the meeting in Paris were not what Wall Street wanted to hear. Dow down 76. (Locked for subscribers until 10:00 AEDT)
In a quiet session, on low volume, Wall Street returned last night to the point at which it fell on the news of the S&P downgrade. Dow up 213.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Down 600 on Monday, up 400 on Tuesday, down 500 on Wednesday, up 400 last night.
If the US is AA+, how can France be AAA given its exposure to euro-debt? That trickle of concern turned into a flood last night. Dow down 519.
There was no QE3 announced last night but markets have rebounded anyway for the simple reason the buyers have moved in. Dow up 429.
Wall Street tried to recover from an inevitable morning drop but as was the case in Australia yesterday, that recovery failed. Dow down 634.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.