Tuesday, November 11, 2008

Markets slide on economic worries

Markets worldwide succumbed to plethora of bad economic news today. In New York stocks fell 2% as the Dow closed at 8693 while the S&P ended the session at 898. Asian losses were steeper, as Indian markets slumped over 6% as the Sensex closed at 9839 and the Nifty at 2938.

Tomorrow should finally see some significant gains in the US in advance of the Full Moon, although the outlook may be less positive for Asia. November is shaping up to be a mixed month within a fairly narrow trading range.