Friday, January 18, 2008

US Market Summary 17 Jan 08

Dow 12,159.21 -306.95 -2.46%
Nasdaq 2,346.90 -47.69 -1.99%
S&P 500 1,333.25 -39.95 -2.91%

Seems like it was quite unexpected as the Philadelphia Federal Reserve said its survey of regional manufacturing activity registered a negative 20.9 from a revised reading of negative 1.6 in December. Thus, causing a panic drop as if you look back at Philadelphia Fed data for similar numbers, it takes you back to the 2001 to 2002 recession.

Asia Market may face a challenge today as it may plunge today.

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