The Dow Jones Average DJIA dropped hard this morning. Futures were positioned
lower this morning and just after opening bell in the US, the stock market index
plummeted by losing over 500 points. Currently, the DJIA is in the red by over
525 points at 10,885. The Nasdaq is lower by 131 points at 2,380 and the S&P 500
is red by over 54 points at 1,139. It has been a choppy week and today is adding
extra volatility to the marketplace. It appears that in addition to the general
stagnation of the economic growth here and abroad, Morgan Stanley issued a
report that reduced the economic growth and outlook for the global economy. The
report also indicated that the US economy and the European economy are
struggling now and are displaying recessive tendencies. The US government also
reported that weekly jobless claims notched higher at a rate much worse than
expected. Investors on Wall Street are having difficulty processing the trends.
Asian markets ended in the red and stocks in Europe are trending sharply lower
as well. The dollar is gaining strength against a basket of other currencies and
safe haven gold is notching higher. Economic news is poor but corporate earnings
are helping to give investors on Wall Street some hope this week. Frank Matto
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