The Market On Wednesday

At 8:00 a.m. futures are significantly down, oil is at $68 per barrel, and the dollar is way up against the euro but down against the yen.

The big news is Germany's rule change banning a form of short selling on debt securities. With the E.U. in insolvency limbo, one can understand the investors working the short selling angle. Its all about the profit as the market goes up and down.

It would probably be safe to say we are in a correction or more. Oil is down but I don't recall seeing gas down, do you.

CNN: Investor confidence takes a hit

Germany's financial regulator announced late Tuesday a ban on so-called naked short sales of debt securities issued by euro zone countries as well as the country's 10 leading financial firms.


In a "naked" short sale, however, investors short the investment without actually borrowing the shares or bonds, making it much easier to drive down their value.


U.S. light crude oil fell $1.22 to $68.19 a barrel.

Reuters: Futures point to weak Wall St on regulation worries

Highlighting the bumpy road ahead for the economy, White House economic advisor Paul Volcker said Europe's debt crisis shows the risks for the United States if it does not get its budget deficits under control.