Markets in the United States were closed yesterday, but things didn’t go well in the rest of the world:
LONDON (AP) — Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government’s stimulus plan to prevent a recession.
U.S. markets were closed for Martin Luther King Jr. Day, but were primed to open Tuesday’s session with steep declines, according to futures trading.
Futures don’t correlate exactly to the underlying indexes, but are nonetheless a good indicator of stock index direction. As of 11:30 a.m. ET, March contracts on the Dow Jones industrial average, the S&P 500 and the Nasdaq composite all pointed to declines of over 4 percent at Tuesday’s open.
Hang on for a rough day.
