Sell-Off Continues Despite G-20 Pledge to Act
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Stocks remain under heavy pressure Friday as worries about a rapidly deteriorating global economy continue to weigh.
A statement Friday from the G-20, pledging a "strong and coordinated" effort to stabilize the global economy, has failed to instill much confidence thus far.
With over an hour until the U.S. open, stock futures are pointing to a gap down. Dow Jones futures are down 152. Nasdaq 100 futures are down 32 and S&P 500 futures are down 17.
In Europe, the FTSE is down 2%, the DAX down 3.2% and the CAC 40 is off by 2.8%.
Feeling the pressure to react to the global market sell-off, the G-20 tried to instill confidence and a sense the group is ready to act. "We commit to take all necessary actions to preserve the stability of banking systems and financial markets as required," the G20 said in a communique.
Even gold is proving to be no safe haven with the precious metal down $47 to $1,694.60 in early trading.
A statement Friday from the G-20, pledging a "strong and coordinated" effort to stabilize the global economy, has failed to instill much confidence thus far.
With over an hour until the U.S. open, stock futures are pointing to a gap down. Dow Jones futures are down 152. Nasdaq 100 futures are down 32 and S&P 500 futures are down 17.
In Europe, the FTSE is down 2%, the DAX down 3.2% and the CAC 40 is off by 2.8%.
Feeling the pressure to react to the global market sell-off, the G-20 tried to instill confidence and a sense the group is ready to act. "We commit to take all necessary actions to preserve the stability of banking systems and financial markets as required," the G20 said in a communique.
Even gold is proving to be no safe haven with the precious metal down $47 to $1,694.60 in early trading.
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