Power Breakfast: Can Wall St. break world markets’ fall, school cuts, unemployment, Macy’s, financial overhaul, oil spill

Today is a big day on Wall Street. Can U.S. investors break the fall that has been gripping world markets recently?

Once again Friday, world markets tumbled, extending a wave of selling amid growing fears that Europe’s debt crisis could spread and undermine global economic growth, Associated Press reports.

In early trading in Europe, markets in Britain, Germany and France all fell.

That follows retreats in Japan, Australia, Indonesia, Singapore and India, AP wrote.

But stock futures on Wall Street pointed to modest gains following the Thursday’s big sell-off, AP said. The Dow plunged 376 points yesterday.

Investors fear debt problems in countries like Greece and Portugal will spill over to other countries in Europe, AP said. That could then trigger a cascade of losses for big banks and, in turn, hinder economic recovery in the U.S. and elsewhere.

Also in the AJC:

In other media:

5 comments Add your comment

TnGelding

May 21st, 2010
8:05 am

Let’s hope so, but it looks like a flat open at this point. The IMF and the USA will not let Europe fail. I’d like to hear some reassurance from the WH. It looks like Germany is going to ante up. I sure hope we don’t react as badly as the Greeks when our austerity program is passed.

Morrus

May 21st, 2010
8:06 am

Curiously, in a supposed anti-incumbent year, most of the departing are not retiring but seeking higher office. We may recycle more than we replace. The bad news is that a frustrating 114 seats still have but one contestant. Two of them aren’t even incumbents, meaning they will affect state policy without being vetted by voters. And I have to think that we’d be better off if many had run instead for the Legislature — and cut down on the number running unopposed. Georgia’s problems are numerous. They aren’t going away. There’s too much stale thinking at the Capitol, on both sides of the aisle. New voices would be welcome.

More Bail Outs

May 21st, 2010
10:23 am

The U.S. needs to print more money and bail out greece and spain—too big to fail! Hurry, ask the chinese for more billions!

TnGelding

May 21st, 2010
6:24 pm

The answer was yes! Too bad for the rough start. Now if nothing crazy happens over the weekend.

PrestCo213

May 21st, 2010
6:50 pm

**I sure hope we don’t react as badly as the Greeks when our austerity program is passed.**

Gelding, if you live within a 50 mile radius of any metropolitan city, get out NOW!