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This is this Imus in the morning.
On the clock -- Good morning everyone markets around the world are in the red after Federal Reserve Chairman Ben Bernanke disappointed investors looking for a clear sign.
Of more stimulus from the Central Bank here in the US futures are down across the board Dow futures are down by -- DBS -- down by seven and the NASDAQ down by twelve.
All bring your investors are also digesting -- Spanish debt downgrade.
To triple B from A meanwhile Reuters is reporting that a senior European Union source says Spain is set to request a financial package for its troubled banking system.
But a government spokesman -- says they are not aware of any aid request stocks there.
Are down across the board -- down by about fifty Paris is down by thirty.
And Frankfurt's down by 52 now let's take a closer look at what's moving those markets -- -- DC partners David Buick over in London David.
You make of the Spanish downgrading of the country has enough problems already does this bring any new ones and like.
Not particularly darned good good morning to you as well I think you know your comments about Ben Bernanke being not forthcoming with any QE.
-- stimulus packages the market was really hyped up that he was going to and we expected something similar.
From doctor Mervyn -- -- -- king the governor of the bank bring them than there was nothing Merritt told.
And it's been pretty clear that -- and group drug he was not keen to do anything as regards -- ECB.
So the market really -- it's how all of that -- that it was gonna get that stimulus.
So we shouldn't really be that concerned.
Extra concerned about the downgrade Fitch to triple B from LA.
You know which puts it in line with Kazakhstan.
And Thailand because that's the stage of the Spanish economy at the moment that it wouldn't surprise neutral.
But you know we get further downgrades and Spanish banks mean we share despite denials that there will be a bailout for -- somewhere sometime in the next couple of weeks to the tune of somewhere between.
Sixty and eighty billion euros.
Now -- at the moment it seems that I -- -- Merkel to Charles for Germany is dragging her feet about how she feels it should be brought about.
She's very -- obviously on fiscal stimulus in terms of our entire European basis but -- hydration federalism which of course doesn't shoot people at the moment.
Because people feeling pain all of a sudden get very nationalistic.
And David adding there are some mixed messages right now as far as whether or not Spain does plan to ask essentially for -- bank bella as you said.
Reuters is reported said that it does the government says it's waiting for audits from the IMF.
And two outside companies what's the right move for Spain at this point should they be asking for a -- are we there.
I think we really need the European Union to stand pitch or -- on the situation by saying.
Spain's -- need a bailout and this is how it's gonna be done it's going to be done by banking unit and so that everybody's involved in this and it does show is gonna keep using -- -- an -- -- -- -- -- -- correction -- -- deal with this problem.
Because we're -- we hear rumors that does and that deny it and the Imus being brought in though it isn't an -- to the ECB -- is subject to do with me.
This is where you get the uncertainty creeping in -- where you get markets putting back.
The -- deal with uncertainty sir won't we won't.
Is an announcement from the European Union preferably from Angela Merkel showing the entire European Union is agreed upon.
This is how the package is gonna -- unfold well.
David Dow Jones is reporting now that financial ministers from the European Union will hold a teleconference on this this weekend so maybe they'll come up with that united course for looking for we'll see.
Thanks so much for being on data on the New London C cup classic stated.
Meanwhile Asian markets were lower as well for the latest done that let's go to -- -- while Morrissey joins us live from Beijing -- get better.
Good morning and well you're just talking about Ben Bernanke's comments and they didn't help equities on the side of the world you there.
Especially in Japan they -- some of the heaviest losses at.
More than 2%.
Now of course the other big factor -- focus here at age at today with China's interest rate cut yesterday that this was supposed to be a big boon to the market it was let's tell investors hate Chinese policy -- are really doing what it needs to take even if the -- there.
-- that I instead it really spooked investors that kind of a slew of economic data this weekend.
Basically giving them an idea that it may not be that good so that's rich get right here -- and Lisa had ended the week.
That way that we began it even though some -- optimism.
In the metal -- act and.
And did you have got to congratulate you -- they're moving -- to a new job that is spent some time with the families that we won't be talking to you -- while we will miss you but congratulations and tell mama.
On the Morrison -- that I think.
I want let me make you that have been -- -- there they can't get it.
And here's a look at commodities now oil and gold have been the downside all morning -- now down by two dollars and fifty cents trading at 82 dollars a barrel.
Gold is down by about eight bucks at 1579.
-- coming up this hour Imus is gasoline producer and author Jerry Weintraub Imus in the morning continues right.
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