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Euro down 2% as Subprime worries consume all in pit of fear

AlfredSokol said: "Even the Euro is down because of worries about the [url=http://investing.reuters.co.uk/news/articleinvesting.aspx?type=hotStocksNewsUS&storyID=2007-08-09T131016Z_01_L06888269_RTRUKOC_0_US-MARKETS-FOREX.xml]subprime [/url] situation. [quote] he euro dropped 2 percent against the yen on Thursday as signs the U.S. credit sector worries are starting to hurt European banks prompted investors to reduce their exposure to risky trades financed in the Japanese currency. The euro was down 2.1 percent at 161.58 yen, headed for its biggest daily fall in more than two years. French bank BNP Paribas said on Thursday three of its funds were hit by problems in the U.S. subprime mortgage sector and decided to temporarily suspend redemptions.[/quote] Fear is ruling the day."

ratAphooey said: "Heck yea it is. I live in fear now."

lil dickie said: "There is no escaping sub-prime. You can run but you cannot hide."