The Market Needs More Fear
The stock market continues to get punished by ever soaring crude oil prices and the continued meltdown in the financial sector. One of these factors, in isolation, would be enough to send stocks lower, but both at the same time is simply too much to bear. (Pun intended.) As I looked at my quote machine early on Friday, July 11, crude oil was up $5.00 per barrel to a record high, Fannie Mae (FNM) and Freddie Mac (FRE) were each indicated lower by 45%, and foreign markets were very weak. Can it get any worse?
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.