WRAPUP 1-Global stocks close dismal 1st half, outlook grim

[uscitizen]

WRAPUP 1-Global stocks close dismal 1st half, outlook grim
Mon Jun 30, 2008 6:25pm EDT



By Jennifer Ablan

NEW YORK, June 30 (Reuters) - The worldwide credit crisis that burst onto investors' radar screens nearly a year ago wiped out some $3.3 trillion in wealth from global stock market wealth in the first half of this year, and optimism for a second-half recovery is fading fast.

Benchmark stock indexes around the world just wrapped up their worst first half in six years or even more. For some, most notably the Dow Jones industrial average, which dropped 14.4 percent in the six months through June 30, it was the poorest start to a year in nearly four decades.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN3041264220080630?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=22&sp=true

 

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The Feds chickenshit stance last week didn't help matters. Especially if the ECB raises rates on Thursday. They do as expected and raise and the dollar is going to plunge, which will send commodity prices higher.

The Fed then faces going into a Holiday weekend with a huge decision. Did I mention how pissed I am that they didn't raise rates last week?

 

[uscitizen]

Question ? Does the dropping US dollar normally boost the price of US based stocks as foreign investors see them as bargains ?

Yeah I picked up that you are pissed at the FEDs, but then I have been pissed at them for years now.