We have told investors and traders worldwide what it would take the start the rally and this here has to stop and bottom out for the markets to look forward as they have no clarity and therefore the selling keeps up.
We are going to be teach people how this works going forward in our SMF Economic Club you can sign up now by sending an email to info@stockmarketfunding.com or by calling us today at 702-685-0772 we will be happy to update you so that you can start planning your futures moving forward.
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Reuters reports shares in UBS (UBS) plunged on Friday after U.S. tax authorities said they were widening a probe into the bank and wanted 52,000 client names, a day after UBS agreed to a fine to settle criminal charges.
The stock was down 9.4% at 11.60 Swiss francs at 3:29 a.m. EST, reversing some of Thursday's strong gains.
The DJ Stoxx index of European banks was down 3.8 percent, and rival Credit Suisse (CS) was down 8.65%. Analysts had welcomed Wednesday's news in the hope it would settle the U.S. probe, which is investigating help given to rich Americans to dodge tax, and allow crisis-hit UBS to focus on a badly needed restructuring.
But the civil U.S. lawsuit announced late on Thursday will continue to keep UBS under pressure and will be watched by the whole $7 trln offshore banking industry, as it could open further cracks in the secrecy that helped the sector thrive.
Prepare yourself for the "New Economy"