Tuesday, February 09, 2010

Market poised to drop further

The Dow lost 103.84 points and broke the 10,000 psychology level early this morning on concern of debt problems in Portugal, Ireland, Greece and Spain (PIGS). Other concerns are the unemployment rate rise in the US and Obama's move to restrict the activities of big banks in America. Of concern also is that China may suddenly cool down. The Dow closed at 9,908.39. This means that it has dropped 817 points or 7.6% since Jan 19, 2010.
Today, here in Malaysia, we are likely to have another down day. Be prepared for another beating!