Everybody remembers the old Hasbro TV commercial that "weebles wobble, but they don't fall down." That's how I felt when I watched stock markets around the world this morning. Virtually every market in every nation is down and down sharply. Of course, this is a reaction to the Russian invasion of Crimea over the weekend.
Asia was down 1.0-1.5 percent overnight. Europe is down 1.5-2.0 percent. Futures indicate the U.S. markets will drop about a percentage point today.
However, the Russian stock market is already down 13% in one day. Capital is racing to escape Russia, and their currency is plunging. Putin is already paying a price. Who needs diplomacy anyway? I suspect Putin has his arms around a tar-baby, that will be difficult to dis-engage.
The world is not ending, and it is a good time to pick up some stocks cheap . . . before they stop wobbling!
Asia was down 1.0-1.5 percent overnight. Europe is down 1.5-2.0 percent. Futures indicate the U.S. markets will drop about a percentage point today.
However, the Russian stock market is already down 13% in one day. Capital is racing to escape Russia, and their currency is plunging. Putin is already paying a price. Who needs diplomacy anyway? I suspect Putin has his arms around a tar-baby, that will be difficult to dis-engage.
The world is not ending, and it is a good time to pick up some stocks cheap . . . before they stop wobbling!
