Tomorrow could be a historic day......and not the good kind

Tomorrow could be a historic day......and not the good kind

With the Dow Jones Futures dropping 500 points the dow could be opening extremely low. There are articles out there predicting 1000+ point falls in the DJI, some are predicting complete meltdown. I don't really think it will go that far but I do think we may see some emergency actions tomorrow.

Not only did the futures take a huge hit but all the foreign markets took significant losses as well.

Stocks Plummet in Germany, Hong Kong, India, Brazil in Rout

Jan. 21 (Bloomberg) -- Stocks plunged in Germany, Hong Kong, India and Brazil, and U.S. index futures dropped on mounting speculation that the global economy is slowing and company defaults will rise.

Europe's Dow Jones Stoxx 600 Index fell the most since the Sept. 11 terrorist attacks and sank into a bear market, as Allianz SE and BNP Paribas SA slid. Hong Kong's Hang Seng Index had its biggest drop in six years after BNP Paribas said Bank of China Ltd. may write down overseas securities by $4.8 billion because of losses from U.S. subprime mortgages. Citigroup Inc. retreated in Frankfurt.

http://www.bloomberg.com/apps/news?pid=20601091&sid=a8g9S4628Mkw&refer=india

Futures plunge on U.S. recession fears

NEW YORK (Reuters) - U.S. stock index futures sank in holiday-shortened trading on Monday as fear of a U.S. recession gripped investors, indicating Wall Street was likely to join a global equity markets plunge that may usher in a bear market when trading resumes on Tuesday.

While cash equity markets were shut for the Martin Luther King Jr. Day holiday, index futures were very active in electronic trading through the Chicago Mercantile Exchange. U.S. stock markets reopen on Tuesday.

http://www.reuters.com/article/businessNews/idUSN2140979520080121