How sick is the stock market? It looks like three mega-cap mergers will be announced today and the market is still falling. Not a good sign. Merck/Shering-Plough, Dow Chemical/Rohm and Haas and Roche/Genentech all look like they will be agreed today and the the S&P still falls, down 1.3% as we approach the final half-hour of trading.
EUR/USD is edging lower as risk aversion picks up late in the day. EUR/USD trades now at 1.2612 after spening much of the afternoon in a 1.2625/45 range.
