Wednesday, November 16 Market Recap

WEDNESDAY (DJIA -190) U.S. markets accelerated to the downside after Fitch warned that contagion to U.S. banks from Europe poses a risk. A bit late with the news as financial stocks have already been hammered this year and the credit market pressures are already reflecting this risk. The Consumer Price Index in October was roughly in line with consensus estimates. Core CPI (excluding food & energy) increased by .1% to 2.1% primarily driven by rent inflation.