The news that Bear Stearns (NYSE: BSC) was sold to JP Morgan (NYSE: JPM) and that the Fed would increase liquidity for primary dealers was too much for the Japanese market to bear. It sold off 3.4% in the opending minutes and is likely to be followed by drops in exchanges in China and other Asian countries as they open for Monday morning trading.

Hitachi opend down 8.3% to 623 yen. Mazda was down 4.8% to 341. NEC was off 5.1% to 376. Toyota (NYSE: TM) traded off 3.3% to 4920.

If US exchanges give up similar numbers, the Dow could easily open down over 300 points with some financial shares suffering sharper losses.

Douglas A. McIntyre

Smart Investors Are Quietly Loading Up on These “Dividend Legends”

If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats.

There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside.

If you’re tired of feeling one step behind in this market, this free report is a must-read for you.

Thanks! We will redirect you shortly to the free report!

By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.