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Dubai Shakes Things Up for World Markets

By Miranda Marquit on November 27, 2009

Yesterday, the news broke that Dubai was experiencing some serious debt issues. Dubai World, which is a financial entity owned largely by the Dubai government, announced that it would be restructuring and that it would be stopping debt payments. This news has shaken world markets. In 800px-DubaiskylineAsia and Europe, the markets were shaken yesterday. But with the Thanksgiving holiday, it appears that the U.S. reaction was delayed.

This morning, investors work up and sent the Dow plunging more than 200 points. While the losses have moderated so far, with the trading day almost over, there are concerns that Monday could bring another round of losses. After all, today is a short trading day — ending at 1 p.m. Eastern — and many investors are traveling or enjoying time with their families. Time to consider the information may lead to bigger losses on Monday. The news is also taking away from optimism, prompted by Black Friday, about the holiday shopping season.

The investors participating in the markets today, though, are mostly gravitating toward U.S. Treasuries and the U.S. dollar. Stocks are considered riskier, and in times of uncertainty and in times when the markets are in upheaval due to such monumental news, it is little surprise that investors are turning to the relative safety of government bonds and the U.S. dollar, both of which are backed by the most stable taxpayer base in the world.

Image source: lardo via Wikimedia Commons

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Post from: EveryJoe

Dubai Shakes Things Up for World Markets


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