Stock Markets Crash across Europe, Asia

Frankcoins

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

dbldie55

Thanks for the breaking news. The other 3 or 4 threads on this were just not enough.

mrearlygold

Good. We made an offer on a house in SE Asia. Made a fair offer in gold. The counter offer that came back was more than we would pay. The house then went up almost 50% ( of course ). Now it's falling like a stone.

When it hits 100K again and it certainly looks like it's going there we'll grab it.

VicThrust

Is the house in the Philippines?

Connecticoin

Time to buy!

ccmorgan

Tomorrow will be follow the leader for the american markets.

Bear

Then this is not a good thing, right.

BigRed

stocks going down, real estate crashed, gold slipping, what to do??????????? any suggestions out there, my full service stock broker has been silent.

Frankcoins

<< <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.

Bochiman

<< <i>Is the house in the Philippines? >>



Vietnam, I would wager.

ccmorgan

<< <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.

Doogy

<< <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!

ziggy29

<< <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.

dbldie55

<< <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.

Frankcoins

<< <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....

57loaded

time to buy...gold

fastrudy

Put your money into TULIPS!

57loaded

<< <i>Put your money into TULIPS! >>



the tulips bulbs have already rotted months ago, silly!

mrearlygold

<< <i>Is the house in the Philippines? >>



No.

mrearlygold

<< <i>

<< <i>Is the house in the Philippines? >>



Vietnam, I would wager. >>



Maybe

MoneyLA

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.

tradedollarnut

<< <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.

MoneyLA

TDN you are correct. I did not check our stock futures when I wrote my comment. I was looking only at the drop in the Euro.

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.

Lakesammman

I'm retiring in 15 years. What's the long range forecast??

jdillane

Figures...I finally decided to liquidate some of my 401k to pay down debt and now my 401k has plummeted since mid December. To those who wonder why I'd tap the 401k, I took a new job last year at much lower pay but the wife spends like nothing has changed. For years, I gave till it hurt to the 401k and figured this would not be the worse thing I could do. But, my account administrator took a whole month to change my address in the system. Now its ready but I no longer am as motivated to liquidate. It's liquidating on its own!!!

Ugh!

MoneyLA

instead of liquidating, do you have an option to switch to a "cash account" or money market fund and stop your exposure to stocks?

this way you can avoid possible tax penalities for liquidating your 401K.

jdillane

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.

quarterguy

the sky is falling chicken little!

Wolf359

<< <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.

OPA

<< <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)

Longacre

I can't afford to lose any more millions. These markets are crazy. Where is Bidask when we need him??

SkyMan

While I don't encourage anyone to catch a falling knife, I just want to remind people that roughly 20 years ago the Dow tanked approximately 37% IN ONE DAY. However, even if you had bought stocks THE DAY BEFORE THE CRASH, and HELD them till now you would have roughly $5 for every $1 you had back then, BEFORE you even factor in dividends. If you had bought at the end of the day of the crash you would have roughly $7 for every dollar invested back then. Unless you need the money RIGHT NOW, take any major downward fluctuation in the Dow in your stride, and, if possible, use it as a buying opportunity.