Thursday, May 6, 2010

Bouncing slightly....

The DJIA is now off 650, after being down 900...I'd take a lot of these quotes with a grain of salt....Rumor has it that European banks halted lending briefly...not sure if it's true...

One trader, on the condition of anonymity, said he heard fixed income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now.

"This is similar to what took place pre-Lehman Brothers," the trader said.

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