CNBC News: http://www.cnbc.com/id/22672289/for/cnbc.. SYDNEY (Thomson Financial) - Asian stock markets were lower Wednesday on talk the US Federal Reserve was holding an emergency meeting. "There's talk about a Fed meeting - that's what the futures people are telling us but then again it makes sense for them to wait for the December CPI figures out tonight," said Ric Klusman, head of institutional trading at Aequs Securities. There is a general belief that the US is heading for a recession, making action by the Fed necessary though it will unlikely improve sentiment, he said. "If you are unemployed, then an interest rate cut is not going to help much," said Klusman. The Fed might decide to cut interest rates ahead of its January 30 policy meeting in an attempt to calm nervous investors, he said. The Dow Jones industrial hit a nine-month low overnight on weakness in the financial sector due to concerns about heavy losses from the subprime mortgage crisis. Citigroup Inc shed 7.7 percent after the financial services giant reported a 9.83 billion US dollar fourth-quarter loss, which included 18.1 billion dollars in subprime-related writedowns. bruce.hextall@thomson.com bhx/jg COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Spreading the emergency Fed meeting rumour to prop up the markets obviously isn't working this time.......................................
How is this a rumor if it is posted on CNBC and CNN. and do you really believe my little post will influence the market.
FYI people (especially Asian traders) spread rumurs to try and get people to do what they want. Sometimes it gets as far as CNBC and CNN. Last time this rumour caused a Ibounce in HSI. was referring to their rumour not yourv post. Jeez.
Just in.........http://money.cnn.com/news/newsfeeds/articles/djhighlights/200801152309DOWJONESDJONLINE000906.htm
This is some of the funniest shit I've ever seen. The FED thinks they can now control something that is as natural as the weather; the economic cycle. The cycle CANNOT be stopped and has never been stopped. The Bush regime's plan of handing this off to the democrats next year is not going to work. It will be fully blamed on his leadership and contrary to what Karl Rove has claimed, Bush will NOT be looked upon favorably in history. So humorous to watch the fed spin their wheels, flailing in complete helplessness.