Shoppers, by early indications, are doing their part for Black Friday. At the Mall at Wellington Green in Palm Beach County, Fla., free bags of breakfast for the first 500 patrons were gone within 20 minutes after stores opened at 6 a.m.
A wave of contagion selling sweeps across Asia markets Friday, with banking giant HSBC Holdings among the hardest hit, as investors scramble to piece together how much exposure regional lenders have to financial troubles in Dubai.
U.S. stock-market futures were trading sharply lower on Friday as debt problems for Dubai World spread concern across markets worldwide, and as traders nervously waited to see how a shortened Wall Street session would unfold after the Thanksgiving holiday.
The U.S. dollar and the Japanese yen trim gains but remain higher versus major rivals Friday, benefiting from their safe-haven status in the face of mounting worries Friday over the potential financial fallout from Dubai's debt problem.
Analysts on Friday warn of the potential wider impact of Dubai’s financial woes on emerging markets as investors look again at the level of risk they are willing to take.