Today major financial firm Morgan Stanley issued a sell order on US stocks following the rallies in US markets that saw the DJIA recover 20% and the S&P 500 index recover 23% since 9 March 2009. This news coupled with news from GM that CEO Rick Wagoner was asked to resign by the Obama administration and continuing fears about stability of US financials resulted in a major sell-off in the markets today.
Not a few days ago I had shared my fear with colleague Greg at fr33agents.com that a fast, significant rally could spark brokers to advise clients who had already lost significant amounts of investment value to sell off their holdings in the US market. Today it seems my fears are coming to fruition. If other investment firms follow suit that could spell disaster for US markets.
The ramblings of an educator with an opinion and a .45
Monday, March 30, 2009
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1 comments:
I don't like that one bit...
Let's hope they don't follow suit.
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