U.S. pre-market trading suggests a major selloff

By Edward Harrison On Nov 20, 2008

Just after the unemployment claims number was released at 830AM ET in the U.S. markets took a sudden jolt down. U.S. stock futures cratered, European stock markets fell more and Dollar-Yen and U.S. bond markets rose. In fact, bonds rose so much that the two-year treasury yield fell below 1%.

Market indices are collapsing and Bloomberg Radio commentators are wondering aloud whether there is a specific trigger we are not seeing.

Source

Pre-Market Data – CNN Money

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Unemployment claims rise to a massive 542,000

Chart of the Day: Citigroup

Comments are closed.