New york: European leaders are planning to meet on Saturday in France to discuss the global financial crisis.
The Wall Street on Thursday registered another sharp drop as hopes faded for any type of bailout plan that might make a difference. Instead anger is growing on Wall Street as Washington lawmakers seem to take their time.
"People are very concerned about what's been going on and what's been happening in the credit markets and they are finally coming to the realisation that things are sort of freezing up a little bit. And especially when we have got the ISM Manufacturing numbers that came out and were very negative today and what have you. I think you know on Monday when the House of Representatives dropped the ball, you saw what happened to the equity market. They came in and just sold everything, just reckless - they put the blindfolds and just sell. So again we've got a little more of that going on again today," says David Henderson.
Wall Street executives say what happens here, doesn't stay here. There's a ripple effect now coursing through the US economy. New York Mayor and Billionaire businessman Michael Bloomberg has a stark warning for his citizens.
"We are in for a very tough couple of years. No matter what Congress does. It is a worldwide problem, it is a problem that's going to get right down to your job, your house, your car loan, your credit card and it is going to be something that will be painful to work out way out of. There is not going to be any easy overnight cost free solution to the problem," Bloomberg says.
No matter where you go in the US these days, Wall Street watchers will be looking closely at the latest government jobs report.
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