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Market Update, Euro Falls Further, Germany Bans some Short Selling

By Anonymous

Click on graph for larger image in new window.

This graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".

Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.

The Euro is at 1.22 dollars. Other sources for exchange rates and NetDania.

From the WSJ: Euro Falls on German Tax Plan

German Chancellor Angela Merkel said Tuesday in Berlin that Germany would support a tax on the sector to contribute to the costs of the euro-zone sovereign-debt rescue plan.
...
Germany's ruling center-right parties agree that the financial-market sector must contribute to the costs of the euro-zone debt crisis if the lower house of Parliament is to approve Germany's share of the huge euro-zone rescue plan. They demanded the introduction of a financial-transaction tax or financial-activities tax.

And Germany bans naked short selling on eurobonds and some banks ... from CNBC: Germany Planning Sharp Curbs On Some Kinds of Short Selling

Full post as published by Calculated Risk on May 18, 2010 (boomark / email).