The Dow Jones dropped 233.29 points (2.42 percent) to 9391.99 at 1.20 am Singapore Time. Nasdaq (Tech heavy) fell 47.85 ponts to 1732.27 ( a 2.69 percent drop). The S and P slid 24.47 points (2.43 percent) to 981.28. It is expected they will drop even further.
The concern is that further signs of deterioration is evident in almost all sectors of the US economy. The banks are basically reluctant to lend even though hundreds of billions of funds have pumped into the banking system. One that involves trust. The data on October job loss exceeded most analysts' consensus forecasts.
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