The Dow Jones Industrial Average is down over 1.5% this morning, as the index has held below intraday trendline resistance (former support) at 11,093. It could be worse though: at least US stock markets are trading. In Russia, the markets have been halted for the second day in a row despite emergency funding measures by the Russian government. Indeed, the Micex Stock Exchange (denominated in rubles) suspended trading indefinitely after its index erased a 7.6 percent gain and fell as much as 10 percent within an hour, according to Bloomberg News. Clearly, global markets are still on edge these days, despite intervention efforts by the US governement in AIG and Fannie Mae/Freddie Mac, which puts carry trades and the JPY crosses at risk as well.
Dow Jones Industrial Average (60 Minute Chart)
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