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Just when most might have thought that worst is over, US stock market futures are sharply lower. As of this writing, Dow futures were down over 100 points and S&P500 over 15 points.
French banking group BNP Paribas said Thursday that it has suspended three funds with exposure to the U.S. credit markets as it has become impossible to accurately value them after “the complete evaporation of liquidity.” (Full story)
In Asia, South Korea suddenly increased the key interest rates to 5.0% to curb borrowings (Full story). In Singapore, UOB Bank has fixed pricing for property valuations and has reduced mortgage amount that one can borrow.
We are going to see more bump ahead in the global sub-prime sectors. Stay tuned and ahead. Now it’s Europe’s turn.
Stay profitable, OP