Tough Day on Wall Street
It's going to be a tough morning on Wall Street. There's some tough news in the financial sector that may have some investors thinking bear instead of bull this morning. Early indicators have the market going down 300 points.
The fall of Lehman Brothers and the sale of Merrill Lynch are signs that the fall out of the sub-prime market isn't over yet. There's speculation that there's some more casualties on the horizon.
The interview this weekend from former Federal Reserve Chairman Alan Greenspan about how the economy hasn't bottom out of economic downturn won't fair well with the market. Some say that we are in this situation because of the Mess that Greenspan Made.
I'll post an updated graphic on how the market did later today.
Today the market closed was the sixth worst close in US history. Who knows what tomorrow will bring.