Wall Street fell sharply for the first time in six days on fears that the subprime market will hurt corporate earnings. Both S&P500 and Nasdaq also posted their worst decline in a month. The S&P is still stuck in a range of 1,480 and 1,535. The market could break either way. So, I guess investors ought to play the waiting game and wait for a breakout. Across the Atlantic, European stock markets also declined sharply yesterday.
Can the Asian markets hold up today? I guess not. :) The KLCI and STI would like undergo a pullback today. Selected lower liners would also be profit taking in line with the expected weaker sentiment. I am maintaining the portfolios for now.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment