Pre-market update: 2009-03-02


We should expect a very negative open to the markets today. The Dow Futures are pointing to an open under 7000, with key support levels to be tested.

As usual, the reason is the financial sector with AIG and HSBC making headlines. AIG reported a record quarterly loss while HSBC is cutting headcount and looking to raise £12.5 billion to shore up its balance sheet.

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