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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who wrote (2485)	10/7/2001 6:03:05 PM
From: Frank Pembleton	Read Replies (1) of 36161

Global Markets: Muted Stock Selloff Expected on Afghan Attack By Javier David NEW YORK (Reuters) - The U.S. and British-led military strikes against Afghanistan for the Sept. 11 attacks are expected to whipsaw stock markets around the world on Monday, but the widely anticipated nature of the action is likely to temper any sell-offs. A rush to the safest of assets probably will cause investors to park cash in money markets initially, pushing yields on short-dated debt to new lows with the dollar's movements seen mainly following the trajectory of stocks. Oil prices, which are sensitive to sounds of war, are likely to rise, analysts said. The impact on markets from Sunday's strikes against Afghanistan -- in the works since hijacked aircraft crashed into and destroyed the World Trade Center in New York and damaged the Pentagon outside Washington -- will depend largely on the results of the military action. "It is not such a shockingly unexpected event that it will put markets into disarray, but how it unfolds over the next few days will be key," said Anthony Karydakis, senior financial economist at Banc One Capital Markets in Chicago. He expects stock markets worldwide to weaken, with the Dow Jones industrials on Monday selling off by 200 or 300 points, or about 3 percent, at the open. ca.news.yahoo.com

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