US stock futures
U.S. equity markets pared losses at the end of trading Wednesday. Activity
in the overnight futures market suggests further volatility is in play.
Dow futures tumbled more than 700 points Wednesday night, pointing to
another volatile start to trading in New York.
The U.S. dollar index broke 100.00 for the first time in almost three
years. The fastest bear market in history shows no signs of abating anytime
soon. In the near term, this means an even stronger dollar.
The strength of the greenback proves once again that cash is king in times
of crisis. Unfortunately, this could stoke another liquidity crisis – in
foreign exchange markets, no less.