The Eurodollar pit is where the world's leading short-term interest rate futures are traded. In a year where they never let the stick up off the snake's neck, they kept it there right to the closing bell. The Dow Jones industrial average lost 6.2 percent this year, its biggest loss since a 9.2 percent drop in 1981. But perhaps the most volatile stock index was the tech-heavy Nasdaq. There were no new economic reports Friday to dampen expectations the Federal Reserve will cut interest rates next month to prevent a recession and no new profit warnings from major companies.
More disappointments are likely when companies start announcing fourth-quarter results.
First-quarter earnings also are expected to fall short of expectations. You're not going to get good news from techs.