Tuesday, September 16, 2008
On the international front, Europe, Asia and all points in between and away are living and dying with the American markets.
From the BBC: "Lehman's collapse has continued to reverberate: Central banks around the globe have pumped funds into the money markets, including $50bn (£28bn) from the US Federal Reserve, £20bn from the Bank of England and 70bn euros ($100bn; £56bn) from the European Central Bank. US insurer AIG saw its shares slump by more than 70% at one point amid continued uncertainty over its future. Global stock markets fell heavily for a second consecutive day."
Skittish is putting it mildly.
Just a week or so ago, the 24/7, Internet-fueled newscycle was all about Sarah Palin or hurricanes in the Gulf of Mexico. Now, it seems like the presidential campaigns, storm damage and even oil prices (down, thankfully) have been relegated to mere mentions in most newscasts and headlines.
Now it's all about the money.
Extra: With just one point separating Senators John McCain and Barack Obama in the polls right now, it will be interesting to see who is able to take ownership of economic issues and provide leadership on key matters.