The Hang Seng fought down its early gains to close down .8%. No one wants to make big bets ahead
of today’s Summit meeting, which marks the 20th since late 2009, let’s hope this is the one people
remember.

German unemployment rises and has an inverse effect on the market hitting the German Dax for a
1.7% loss which has a domino effect on many other European countries. The FTSEurofirst shed .9%
enlightened by the German data. European investors do not seem confident that the Summit will
produce any productive results. Maybe a history lesson on the difficulties of interlocking so many
different economies into one currency based group.

Its looking like a grim morning for financials as so many are already being hit during pre-trade; BSC –
8.6%, JPM -5.2%, BAC -1.5%, MS -1.15% and C -1%.

Crude slides this morning down to just above $80, natural gas is down .75% to 2.75, gold and silver also
in the red both under .6% so far.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu