Thursday, August 09, 2007
Not a small player:
In the news
NEW YORK (AP) — Wall Street plunged in early trading Thursday, yanking the Dow Jones industrials down more than 100 points after a French bank said it was freezing three securities funds that struggled to find liquidity in the U.S. subprime mortgage market.
The announcement by BNP Paribas raised the specter of a widening impact of U.S. credit market problems.
Who is BNP Paribas
? From Wikipedia:
BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France.
BNP Paribas is the largest bank in the Eurozone by total assets and second largest by market capitalization according to The Banker magazine.
What is the Eurozone
The Eurozone refers to the European Union member states that have adopted the euro currency union.
Members: Austria Belgium Finland France Germany Greece Ireland Italy Luxembourg Netherlands Portugal Slovenia Spain
Oh my gosh! It "plunged" 100 points!
That's like the cost of a chicken sandwich at McDonalds "plunging" from one dollar to $0.99.
Pardon me for not panicking.