They finally got the Sonofabitch C&%*sucker Zarqawi. About time.
This suggests a few things to me:
1) The forces in place taking markets lower are beyond the reach of short term news;
2) Iraq has become such a debacle that the death of a significant scumbag is not that important;
3) The short term swings in the price of Oil, which hasn’t been appreciably below $60 very much for most of the past 2 months, is less significant to markets than previously believed.
Today will be interesting — watch for rally attempts in the futures pit, and a shot at reversing the sell off intraday.
UPDATE JUNE 8, 2006 7:32am
I hadn’t seen anyone discuss this, but the Bovespa in Brazil got shellacked yesterday — The ETF was whacked 4.15% . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.