Financial “bloodbath” feared as stock indexes tumble during US holiday

US markets were closed for the Martin Luther King holiday, but observers are expecting a financial “bloodbath” following plunging stock future indices, down more than 2.6 percent, and soaring bond rates which pushed US Treasury yields to 50 month lows. Investors are fleeing equities due to concerns of a US recession.

On Friday, The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, fell 0.72 percent Friday to close at 116.91, down more than 15 percent for the year to date. It was the fourth consecutive day of losses for the Index.

Among diversified agribusiness, The Andersons (ANDE) dropped 0.68 percent to close at $44.05, while Aventine Renewable Energy (AVR) led the decliners among mid cap ethanol stocks, down 2.02 percent to close at $9.23. Among small caps, Xethanol (XNL) rose 5.41 percent to $0.78 while Environmental Power (EFG) tumbled 10 percent to $4.14. For the day, declines led advances 4 to 1.

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