In case anyone is interested, stock futures are down big time in overnight trading /nt

[still_one]

[madrchsod]

1. you mean sanity is coming back into the markets

or everyone made enough to buy what they wanted

[still_one]

3. At least right now it looks like a massive sell off

Concern for the subprime mortgages, of course in reality debt is catching up to the consumer, and it is more than just subprime

There is a potential that this could cause a ripple effect

[cliss]

2. Baby, they know something

the rest of us don't.

And it's b-i-g.

It's the mortgage lending market that's about to collapse. If you check out the LBN, you can see a few threads there which foretell the black clouds on the horizon. Wells Fargo just shut down its subprime lending division. A big company in Germany is about to fold over the US lending situation.

Two giant companies are in trouble; one we're not sure if it can survive due to tightening credit. The signs are all there; and I believe the 1st dominoes have fallen.

[Extend a Hand]

4. Bear Sterns

is stopping redemptions on a third hedge fund.

[still_one]

5. Yup, you are right on the money. They are also worried that it may carry over

into the conventional loans. Money is definitely going to get tight if this falls apart

[madrchsod]

6. i`m not sure if they have any faith

that this government has the ability to deal with the problem. the whitehouse certainly is`t going to mention this so maybe it will be up to the house and senate to start discussing what happened,what can be done,and how to prevent this from happening again....i know it`s late and i`m dreaming

[Captain Angry]

7. What is your source?

Sounds like an interesting site to read.

As they say, people don't sell until somebody starts selling. If somebody influential has started pulling out, it could get really ugly.

[iamtechus]

8. Asian markets looking sick

Asian markets dropping while we sleep.

http://finance.yahoo.com/intlindices?e=asia

[JNelson6563]

10. Europe too

More blood to be spilled on the Street today. The Stock Watch Thread in LBN will no doubt be full of helpful information.

Julie

[A HERETIC I AM]

11. If the Dow follows that pattern today it will be down 350 points.

or roughly 3%.

It may be a nasty day.

Of course, this is the stock market we are talking about. It could just as easily end up gaining 250 or 300 points.

[Tsiyu]

9. I don't have any direct stake in the markets today

but here's hoping it's just a tic and not a stroke.

The mortgage scene worries me.

Seems like a tip of the iceberg...