Markets – seems like meltdown?

I  am on holiday in Egypt as  I write this, the Weather is fantastic, and the people great. If you have not visited this part of the World before then you should.

Having watched the news on BBC World for a short while this evening it seems that most of the Worldwide Stock Markets have been in freefall with many of the Indexes falling by many points over the past few days. There is something going on here which is being driven by Horror Stories from the US and their overstretched borrowing, the UK in parts is in a very similar position.

Fact is, in the main Company Profits are in good shape  and the overall view is still positive. Whether or not that is  enough put the indices back on track is another matter.

Personally I think  the markets have been oversold, indeed if you look at the list of Riser’s and Fallers there  still have been some shares that were going up in value.

I will come back to this post when  I return from Holiday, meanwhile, as Captain Mannering would say ‘don’t panic’.

 Further comment from the FT is here.

http://www.ft.com/cms/s/3f5375ac-4c12-11dc-b67f-0000779fd2ac.html

Richard Smith

The Finance Zone 0845 226 9106

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