The Dow Jones had a respite, closing 410 points or 3.86% on todays session. Standard & Poors 500 was up 4.1% as well. The good news did not extend to the FTSE 100 which saw a 0.7% drop.
There was no let up for the credit markets with a massive flow to Treasury bills, freezing the market for capital.
$180bn of loans from the Federal Reserve to other world central banks to improve money markets liquidity.
LIBOR, the rate at which banks loan money to each other is still very high.
UK banks were again in the spotlight. Now HBOS has been rescued, the wave of pessimism started on Bradford & Bingley. In the US Morgan Stanley was under the Microscope for its possible tie-up with Wachovia.
The FSA implemented its restrictions on short-selling of financial firms.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment