Woes me. And everyone else that has any money left in stocks. The Dow fell a half percent. The Nasdaq lost 0.1%, which means if you’re in my business, the tech business, there’s a good chance you were affected. Again.

It’s the start of the earnings period and our friends the credit market and financial companies, Freddie Mac (which lost about 18%), Fannie Mae (which lost about 16%), and some big banks like Bank of America (BofA), Wachovia (my bank–no, I don’t own it), and JP Morgan Chase all ended down for the day.

Investors appear nervous, and they’re opting for throwing cash at government debt rather than chasing banks, who many fear will have to raise more money, perhaps through mortgage-backed securities.

Bond prices rallied, the greenback fell against the Euro (something we’re probably used to by now).
The smart guys out there continue to mention that the housing market and the credit crisis will likely get worse before it gets better; I don’t know about you, but I think everyone knows that (or at least thinks it), and if you don’t, well, I have some land in Florida I’d like to sell you.
Obviously high oil prices will continue to make everyone cinch up their spending habits–and that’s not looking like it’s going to change any time soon. But seems The Weather Channel is being bought–maybe NBC Universal and two private equity firms are going to take things into their own hands and turn our bad financial weather back to sunnier times.
Yeah, I didn’t think that was that humorous either.