Overseas Markets Bouncing Around Lows

Overseas markets almost all fell on the open, but some have now stabilized somewhat. The Nikkei is currently off “only” 0.9%, while the Hang Seng is off 2.4%. The Shanghai Composite is actually up 1.5%.

A number of people I spoke to Friday seemed convinced we would see a
plunge on U.S. markets tomorrow, and most of those people wanted to buy
it, if it happened. That is usually, en masse, a recipe for no sharp
broad-market decline at all. And that is, so far anyway, the way things are playing out.

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