Tomorrow marks the 'Day of Rage' (3/11/11) that protesters are planning in Saudi Arabia. Fear of more uprisings in the Middle East, specifically in Saudi Arabia, have significantly hurt the overall markets today. Oil recently spiked over $2/barrel in the matter of minutes with an AP report suggesting that Saudi police open-fired on protesters in preparation for the 'Day of Rage.' Given Saudi Arabia is the world's largest exporter of oil, this poses a serious risk for global markets, and is likely to push oil and gas prices up for the next few months.
The events in the Middle East simply prove the linkage between U.S. and foreign markets - we are truly a global economy.
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