Stock analysts will need to regroup when global exchanges open again after the weekend. Stocks the world over closed their worst quarter in nearly three years on Friday.
"The combination of sovereign debt crisis, a slowing economy and really what appears to be ineffective leadership in Europe has led to this decline," said Omer Eisner, chief market analyst at Commonwealth Foreign Exchange. "And we expect that to continue to play out in the fourth quarter."
U.S. stocks fell, closing their worst quarter since the collapse of Lehman Brothers in late 2008.
In stocks of local interest:
- Hewlett-Packard lost $1.33 Friday, down to $22.45
- Idacorp lost $.50, down to $37.78
- Micron lost $.83, down to $5.04
- Supervalu lost $.30, down to $6.66
- URS lost $1.17, down to $29.66
- Zions Bancorp lost $.97, down to $14.08
Adding to a string of depressing global data, China's manufacturing sector contracted for a third straight month in September while German retail sales slid at their sharpest pace in more than four years. Anyway analysts say that it's quite a good time to invest your money in professional traders (trust management) as there are great possibilities to earn on people's fears.