Dubai Fears Continue to Drive Global Markets Down

This is not the post I wanted to write on Thanksgiving Day, but U.S. stock investors may want to prepare, at least mentally, for a severe correction in the stock market.

It already started yesterday in Asia, continued on to Europe today, and Asia again is opening in deep red. U.S. stock market futures are in deep red. Dow futures down 184 points as of 7:44 PM EST.

It is because of the fear of sovereign default (Dubai).

This screen shot is today's European markets.

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