You may be right. The main outstanding question I have is how much selling is still on the books that wasn't completed yesterday that is going to flood the market at the beginning of the day.
European stocks are beginning to put some of the blood back in, but just about all of the European indices are sitting at around -1% right now, 2.5 hours into European trading.
European shares pare losses, US futures up Wed Feb 28, 2007 5:53am ET
LONDON, Feb 28 (Reuters) - European shares halved earlier losses on Wednesday to trade less than 1 percent lower as corporate news and re-emerging takeover talk boosted markets, and U.S. index futures rose.
At 1041 GMT, the FTSEurofirst 300 index <.FTEU3> of top European shares was down 0.95 percent at 1,491.86 points, up from an intraday low of 1,473.66.
French group Carrefour (CARR.PA: Quote, Profile , Research) rose 2.8 percent on market talk of a leveraged buyout, while Volkswagen (VOWG.DE: Quote, Profile , Research) led German gainers with a 2.5-percent rise on strong results from its Audi unit.
"Should the markets have been down 3 percent yesterday? Probably not. So, it's just a matter of people adjusting to what's been going on since yesterday," a trader at a French brokerage said.
Dow Jones industrial average <DJc1>, Nasdaq <NDc1> and the S&P 500 <SPc1> futures were all up around 1 percent after a sharp slide in U.S. markets on Tuesday.
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