*Stocks in Asia were generally lower, with some key indexes hit hard. The Nikkei fell about two percent on the session, Shanghai lost 1.7%, Australia was down about one percent and the Hang Seng fell 0.4%. Similar situation in Europe, as the Dax is currently off 0.9% and the Footsie is down a half percent. US stock futures are down by almost a half percent.
*Bundesbank President Axel Weber, frontrunner to succeed Trichet as ECB boss, said overnight that the ECB should keep unlimited lending through year end and that German growth is likely to slow in the second half of the year to about 0.5%.
*Australia heads to the polls on Saturday for a national election that is said to be too close to call. Leading the incumbent Labor Party is Julia Gillard, who ousted former leader Kevin Rudd in June after his popularity plummeted in response to his proposal to exact a forty percent tax on “super profits” in the mining industry. Tony Abbott is the leader of the center-right Liberal Party. There is some thought that the tight election could result in a hung parliament.
*No data today; here, there or anywhere.
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