Global Markets and US Futures Down Sharply

Just fresh from Monday’s 6.5% drop, stocks in Shanghai ended the day down 4.3%. Since it’s market peak just two weeks ago, China’s stock market has fallen over 20%. This could be the signal for a Bear market for the Hang Seng. Most of the European markets are down close to 1% in early morning trading.

After the market closed on Tuesday Hewlett-Packard (HPQ) reported a 19% drop in their quarterly report. The drop was mainly due to weak PC and ink sales.

This looks to be a dreadful opening for the US stock market. Investors should have their stops ready and prepare for a rough trading market. The rest of the week can be rough also as options are set to expire this Friday.