U.S. shares folow European issues by Milota Sidorova

Europe is facing several major strikes. These days people in Greece, France and some other states will enter the streets and demonstrate against significant cutting budgets. Not only against reduction that is generally perceived as „necessary evil“, but also against low transparency and weak trust of EU policy and monetary organizations who have had all necessary data to predict and stop „the crisis“. The reaction of EU was worth of low budget soup opera. The crisis was a reason to establish new organs and institutions to take control over national budgets (or deficits) and protect states from the same situation. Funny or irony of the situation that ! there is no one who truly believes that new organs could affect the money flow if old ones couldn't. EU is generally perceived as a bureaucracy mess of hundreds organizations who are completely hopleless if it comes to major cooperation.Banks are watching from aside, knowing it will affect them, if not internally, then of world markets.And once another, although not that new information broke out – that European banks would lack more than 135 billion euros, American shares slightly shaked.Major indexes just like Dow Jones, S&P 500 and Nasdaq fell after the greatest and the most stable week in past months. Dow Jones slid 107.24 points, or 1.03 percent, at 10,340.69. S&P 500 that gained more than 5 percent last week lost slightly 12.67 points or 1.15 percent to finish Tuesday trading on 1,091.84 and technology Nasdaq composite draw back 24.86 points, 1.11 percent at final 2,208.89.Increase during last week turned out to be a consequence of positive reports from manufact! uring industry. Shares increased despite bleak unemployment ra! tes and long-term flat projections.

related story (sgx18163): http://news.yahoo.com/s/nm/20100907/bs_nm/us_markets_stocks;...

by Milota Sidorova for Cantell TV (http://cantell.tv)

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