asia. investors watching closely as they wait to see what turn stocks will take following standard & poor s historic decision to downgrade america s credit rating. do we have any indication whatsoever what to expect when asian markets open? jerry willis and host of the willis gerri willis and host of the willis report graces us. any indication as to what will happen? we are starting to get some markets saudi arabia saturday night opened 5%, ended 7%. israel stock exchange opening down dramatically. we are worried about a cascading of markets. asia, europe trade down and we open tomorrow morning and may follow suit. that s what we are worried about and watching. we ll be talking this tonight. heather: one of the phrases used earlier with reference to israel said it opened with investors dumping stocks like hot potatoes.
i suspect we will see a down market. what we will really expect next week, on wall street and globally, is a lot of volatility. volatility has jumped from 50% in the last week. you can expect a lot of seesawing in the market. much of this however, has to do not so much with the downgrade, but with what it reflects about the u.s. . we have ter rebel job reports numbers friday. there ter able job reports friday. what wall street is reacting to, not so much the downgrade, honestly, some of the big investors don t pay attention to what s&p has to say. they will continue to buy treasuries. as will asia and europe. they both, the central banks in both of those entities have said they will continue to buy
of spending entitlements but to get our political leaders and members of congress to agree on that, i don t see it, eric. i hope i m wrong. eric: and without that s&p is not restoring our rating. doug and matt, thank you for joining us. heather: the stock market is one of the first to open in asia stocks plem plummeted at the stop of the session. more from jerusalem. the markets opened in israel and investors dumped stocks like hot positive timers and they tried to prevent a crash with this kind of panic. closing bell saw a 7% drop in stocks. it was the largest amount of capital we have seen since the fall of 2008. because its opened on sunday,
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