Thanks for your comments. I seriously believed, until today, the media reports with the reasons given for the market moves. It dawned on me these are the same people saying housing prices cannot go down. They are basically clueless.
Does anyone know what causes the markets to move? As you said, the global market has so many influences. How can one discern them all into one nice summary?
I bet the end of the Japanese carry trade is causing some of this. We’ve got $300 billion removed from the global markets in 3 months of 2006: March – June 30. Isn’t that enough money to move markets?