from my earlier post. let's continue the discussion with yours. no need for parallel posts.
"emergency fed cut - just annnounced Original post
by WOODS-HICK - 1/22/08 5:36 AM
75 basis points. treasury secretary to have news conference
today's word: wall street
"Dollar Declines Against Euro on Speculation Fed Will Cut Rate
By Anchalee Worrachate
Jan. 22 (Bloomberg) -- The dollar fell against the euro on speculation a stock-market rout will force the Federal Reserve to make an emergency interest-rate cut today. ...."
Fed cuts rates 75 basis points in emergency move
By Rex Nutting, MarketWatch
Last update: 8:27 a.m. EST Jan. 22, 2008
"It was the largest rate cut by the Fed since the early 1980s.".."
...cut the prime lending rate by 75 basis points. That's the biggest single cut yet by Bernanke. They are running scared. I think the FTSE, the British stock market fell the least yesterday, others were down 10% overnight at some points. Hang Seng ended down 8.65%, Nikkei in Japan fell more than 5%. Are we headed for a recession? Seems the rest of the world thinks we are, that's the impetus behind their falling stock markets. Right now, before the American stock markets open, these are the futures on them, "S&P futures vs fair value: -57.3. Nasdaq futures vs fair value: -70.8. ..."