Why futures down a lot , any news?

S&P says total losses from RMBS, CDOS for financial institutions will eventually reach more than $265 bln - Reuters

Says expects upward revision of losses from some large european banks. Expects losses in the U.S. to move to regional banks, credit unions, and FHLBS. Expects outlook changes or one-notch downgrades for selected, especially thinly capitalized banks. Says downgrades will have implications for trading revenues, general business activity, bank liquidity.
 
Quote from ganesh6:

I see futures down a lot S&P 20+ points, Dow 120+


Any news?
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stocks down and dollar down huge again

noone wants to have a depreciating asset. everydody liquidates dollar positions

if fed doesn't emergency rise tomorrow it's over
 
i think it is the numbers of the potentail losses for abk and mbi that bill ackman wrote in his letter to the sec and the ny insurance commissioner. he said each one could lose up to 12 BILLION.

...but it could also just be a continuation of the late day reversal
 
I think VMW is a good metaphor for the last 6 months or so. Got totally inflated to 125 on that ridiculous Oct. rally, and now back to close to where it opened on it IPO day. All the fat getting cut from the market
 
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