Subprime are you scared
If I was Google I would be scared, the Market in the us hasn’t opened yet, but I’m pretty sure that the news of Citigroup’s Chuck Prince isn’t going to go down well, in the last month we have seem Goog stock fly up to 700+ while this has been happening else where.
JPMorgan slipped 51 cents to $42.64 in Germany.
American Express, the third-largest U.S. credit-card network, decreased 64 cents to $57.78.
Bank of America Corp., the second-biggest U.S. bank, retreated 62 cents to $44.49.
Wells Fargo & Co., the second-largest U.S. mortgage lender, slid 40 cents to $31.91.
Sainsbury plunged by a record 17 percent to 459 pence after Delta (Two) Ltd., the investment fund backed by the Persian Gulf emirate, dropped its takeover offer for the company.
Tesco Plc, the biggest supermarket chain, fell 1.5 percent to 479.5 pence.
William Morrison Supermarkets Plc fell 3.2 percent to 283 pence
Barclays, which makes more than a third of pretax profit from securities trading, lost 3.5 percent to 518.5 pence as HSBC downgraded the shares to “underweight” from “neutral.”
HBOS, the U.K.’s No. 1 mortgage lender, slipped 18 percent to 810 pence. HSBC lowered its recommendation for the shares to “underweight” from “overweight.”
BHP, the world’s largest mining company, fell 2.7 percent to 1,707 pence.
Xstrata Plc, the world’s fourth-largest copper producer, retreated 2.6 percent to 3,222 pence.
Anglo American Plc, the world’s No. 2 mining company, sank 2.2 percent to 3,049 pence.
British Airways Plc fell 6.25 pence, or 1.5 percent, to 412. ABN Amro Holding NV lowered its recommendation for Europe’s third-largest airline to “sell” from “hold,” writing that the benefits from moving to a fifth terminal at London’s Heathrow airport will not offset competition.
ITV Plc added 1.9 pence, or 2 percent, to 98.1.
Ladbrokes Plc fell 8 pence, or 2 percent, to 393.5 pence.
William Hill Plc lost 12 pence, or 2 percent, to 589.5. Morgan Stanley downgraded adbrokes’s shares to “underweight” from “equal-weight” and lowered its recommendation for William Hill to “equal-weight” from “overweight.”
thanks to Saxobank for the above Data, Now I’m not a stock market guy, yes a have a few shares here and there, but if Goog starts to slip and the people I have spoken to think it will, are we going to see a run on the stock with panicking selling and if that happens what will that do our industry.