The Corner

Money Pollitics

US stock market futures are down a few tenths of a percent in Hong Kong trading on the news of a Dem takeover of the House. However, Japanese stocks are down 180 points or more than 1% on the US political news. My hunch is that Japan fears a dovish shift in US foreign policy on the global terror war. Any US weakness in Iraq will reverberate very poorly in Japan as it might affect N. Korean policy expectations. If the Dems take the Senate, look for a major stock sell-off worldwide and in US.

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