I was going through Bloomberg news world wide, my daily routine these days since Americal market has hit the turmoil. I found the picture above, illustrating what the biggest on the wall street are going through today. Latest News being Wachovia’s demise at the hands of Wells Fargo.
Its a sorry state, mostly because it is affecting the Indian market as much as it id doing damages to others. I have read enough about the subprime crisis and how it jolted the largest economy in the world (hard to believe though). But I’m no economist and I don’t know if it will be set alright in next six months. The stock market has reduced to half of what it was 9 months back. Most reputed and big corporations are sinking, notably ICICI, Reliance Infra, Jaypee group… no idea what else is going to scare us. If anybody has an answer, please let me know
The market is going to go further dow. I’m just praying we all stay afloat.