Friday, November 25, 2011

Biggest Thanksgiving Week Stock Loss Since 1932

The stock market just had its worse Thanksgiving week since 1932. Consider that over your turkey sandwich today!Today's sell-off brought to you by... Europe! 

Turns out Greece is changing some of the assumptions about the debt exchange. I'm going from memory here, but I think Greek debt holders were going to lose 50-cents on the dollar. Now maybe it will be 35-cents of new debt, and 15-cents of cash. Yikes. And now Belgium, too. I'll follow-up later, but it's some such flavor.

Europe. Europe. Europe. 
Black Friday seems to be going well. Crowds are fighting and scrambling over discounted stuff, and the pepper spray and fists are being used to get the upper hand against fellow shoppers. Nothing like the Christmas spirit!More later...

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