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To: RockyBalboa who wrote (3262)	1/21/2008 6:07:22 PM
From: Q.	Read Replies (1) \| Respond to of 6370

US stock futures off about 4.5% today. US stocks not trading, but the futures trade, and they followed the foreign exchanges down.

To: RockyBalboa who wrote (3262)	1/21/2008 8:17:07 PM
From: RockyBalboa	Respond to of 6370

But here, the shit hits the fan: Bank of China is expected to announce a "significant writedown" on its $7.95 billion in U.S. subprime mortgage securities (actually this is much less than expected, and asian markets rebound but what does one expect from pathetic liars.)

To: RockyBalboa who wrote (3262)	1/21/2008 8:22:41 PM
From: Q.	Read Replies (1) \| Respond to of 6370

US market correction was about 15% off its October peak as of Friday. If it dips another 4 or 5% Tuesday as predicted by futures prices, that will amount to a 20% correction. It'll be interesting to see how this plays out. I'd bet some emerging markets could see really big corrections. By the way, on the original "Black Monday" in October 1987, the US market lost 22% in a single day. So today's drop in European markets isn't comparable. Maybe today was just a "Grauer Montag"?