Stock Markets Crash across Europe, Asia
Frankcoins
Posts: 4,569 ✭✭✭
The Bombay Sensitive Index plunged 1408 points, to 17,605, after recovering from as much as a 10% drop earlier in the day. FII Foreign Investors Index in India has dropped 16 to 20 percent in the last six trading days.
In China, the Shanghai Composite Index dived 266 points, or 5.1%, to 4914, while the Hang Seng plummeted 1383 points, or 5.5%, to 23,818, falling through the key 24,200 level and ending only 400 points away from the 23,400 benchmark that many agree puts the index officially in a recession.
In Japan, the Nikkei slid 535 points, or 3.9%, to 13,325 points. The yen rose to 106.08 vs. the dollar, its strongest level in four months, after investors unwound carry trade positions on fears that the Bush $145 billion economic stimulus package in the U.S. will cause a spike in inflation yet not curb a recession.
The German DAX is off 7%
Headline from Germany
Experts Warn of Stock Market Hysteria
MARKETS CRASH ACROSS EUROPE
http://www.spiegel.de/international/business/0,1518,530010,00.html
In China, the Shanghai Composite Index dived 266 points, or 5.1%, to 4914, while the Hang Seng plummeted 1383 points, or 5.5%, to 23,818, falling through the key 24,200 level and ending only 400 points away from the 23,400 benchmark that many agree puts the index officially in a recession.
In Japan, the Nikkei slid 535 points, or 3.9%, to 13,325 points. The yen rose to 106.08 vs. the dollar, its strongest level in four months, after investors unwound carry trade positions on fears that the Bush $145 billion economic stimulus package in the U.S. will cause a spike in inflation yet not curb a recession.
The German DAX is off 7%
Headline from Germany
Experts Warn of Stock Market Hysteria
MARKETS CRASH ACROSS EUROPE
http://www.spiegel.de/international/business/0,1518,530010,00.html
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
0
Comments
When it hits 100K again and it certainly looks like it's going there we'll grab it.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Camelot
<< <i>Thanks for the breaking news. The other 3 or 4 threads on this were just not enough. >>
I looked at 3 or 4 pages and saw nothing about this.
<< <i>Is the house in the Philippines? >>
Vietnam, I would wager.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>
<< <i>Thanks for the breaking news. The other 3 or 4 threads on this were just not enough. >>
I looked at 3 or 4 pages and saw nothing about this. >>
Frank on every message board there's alway a few that think if they've seen/heard it before everyone has.
<< <i>stocks going down, real estate crashed, gold slipping, what to do??????????? any suggestions out there, my full service stock broker has been silent. >>
if he throws himself out the window of the high rise building he is working in, then worry!
<< <i>stocks going down, real estate crashed, gold slipping, what to do??????????? any suggestions out there, my full service stock broker has been silent. >>
What to do? If you're in it for the long run, just stay well diversified and let things fall where they may. Eventually you may need to rebalance your portfolio to buy more of the stuff that went deeper on sale, so when it recovers you'll be participating in more of it.
If you're a day trader or manic market timer, I can't help you since my crystal ball is broken.
<< <i>
<< <i>
<< <i>Thanks for the breaking news. The other 3 or 4 threads on this were just not enough. >>
I looked at 3 or 4 pages and saw nothing about this. >>
Frank on every message board there's alway a few that think if they've seen/heard it before everyone has. >>
There is one on the first page that was posted 4 1/2 hours before franks breaking news.
<< <i>stocks going down, real estate crashed, gold slipping, what to do??????????? any suggestions out there, my full service stock broker has been silent. >>
Already hearing about stockbroker suicides....
Proud recipient of two "You Suck" awards
<< <i>Put your money into TULIPS! >>
the tulips bulbs have already rotted months ago, silly!
<< <i>Is the house in the Philippines? >>
No.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
<< <i>Is the house in the Philippines? >>
Vietnam, I would wager. >>
Maybe
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
So foreigners will buy dollars, and what do they do with dollars? they buy US assets with dollars, such as our stocks and bonds...
look for a rise in US stocks on Tuesday.
www.AlanBestBuys.com
www.VegasBestBuys.com
<< <i>actually, this might be a very good thing for the US stock markets... with the Euro down, the US dollar should gain value.
So foreigners will buy dollars, and what do they do with dollars? they buy US assets with dollars, such as our stocks and bonds...
look for a rise in US stocks on Tuesday. >>
Not if today's futures trading is any indication.
Dow Jones industrial average futures DJc1> dropped 546 points or 4.5 percent. Should the Dow close lower on Tuesday by the amount the futures suggest, it would rank as the fourth-largest point loss ever for the index.
I am equally concerned about the drop in our stock futures. Ive also done some other reading on the web in the last couple of minutes and don't like what I see.
I have been saying on my own web site that our stock market has been in trouble since the first week of the year, so a further sell off would not surprise me.
I guess I was hoping that the sell off in the Euro would help our dollar... but that is not likely to be the case.
To sum it up: yikes.
www.AlanBestBuys.com
www.VegasBestBuys.com
Ugh!
this way you can avoid possible tax penalities for liquidating your 401K.
www.AlanBestBuys.com
www.VegasBestBuys.com
the sky is falling chicken little!
<< <i>Yeah, but I really wanted to pay down debt. Had I liquidated mid December, I'd be a happy camper right now. However, I should have done as you suggested as an interim step. The account admin said the address change should take no more than 5 biz days and I foolishly relied on that. >>
There is no "timing the market or seeing the future" and you did nothing wrong. If you are unhappy with
current yields, you have the option of waiting until it's better.
Free Trial
<< <i>the sky is falling chicken little! >>
Yeah....but even Chicken Little was correct in the end....(Disney version..I watched it with my Grandson)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
U.S. Type Set