CHESSNOID

The overseas markets have fallen again but with more momentum.  Their investors are all switching from buyers to sellers. Hong Kong is down 13%. According to CNN:

Stocks in Asia took another heavy beating Monday, with shares in Japan falling to their lowest level in 26 years, as fears of a global recession continued to sweep the region.

Tokyo’s benchmark Nikkei index closed down 6.4% — its worst closing level since October 1982. Hong Kong shares were pummeled, with the Hang Seng index plunging 12.9%.

U.S. futures, which offer an indication of how Wall Street will open when trading begins in New York, were sharply lower.

Tokyo stocks stumbled as the yen fluctuated near a record high against the dollar. A stronger yen makes Japanese exports relatively more expensive.

The stock market futures are now news worthy down in the 3-5% range. It will be a brutal day on Wall street tomorrow.

	Dow	-266.00	-3.22%	7,995.00
	NASDAQ	-50.50	-4.24%	1,141.00
	S&P	-38.40	-4.43%	827.60

Looks like the circuit breakers will kick in. That will stop the panic selling, but as we keep seeing the same scenario play out every week and now seems like everyday, investors will become more apt to just sell and stay on the sidelines. This seems to guarantee the federal reserve will do another “emergency” rate cut early.  Good luck.