The Deal
Saturday, November 21, 
2:04 pm

Market reactions to Bear Stearns, J.P. Morgan deal

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Early indicators show that U.S. investors will follow the downward reaction European and Asian markets had to the J.P.Morgan Chase & Co.-Bear Stearns Cos. merger, announced just before Far East markets opened Monday morning.

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Tokyo's benchmark Nikkei 225 index lost 3.7% to close at 11,787.51 point. Meanwhile, China's Shanghai A share market was down 3.6% in late trading, the Hang Seng Index in Hong Kong was also down 5.2%.

S&P 500 futures were declining 29 points to 1,265 and were roughly 26 points under fair value.

The Street.com reports the futures on the Nasdaq 100 were down 33 points to 1,692. The plunging future indicators reportedly point to opening selloffs in the U.S. European markets fell 2% to 3% in early trading, reacting to a fall of 3% to 5% to various Asian markets.  - Gerald Magpily






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