FNSR is down 14+ points in pre-market. What's interesting is the reason. Forward guidance was down--because they think China is slowing down. That's the first evidence I've seen that the China's rate change is having an affect on the U.S.
China has been adjusting interest rates and rules on second/third home mortgages and businesses. They are trying to slow down their economy to wring out inflation...especially food & energy inflation.
Here is Andy Xie take on China
That's my amateur guess.
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