Global economic crisis

[HURAKAN]

Dow slides five per cent

"The Dow Jones Industrial Average sank 508.39 points (5.11) per cent to a five-year low of 9447.11 just after the closing bell, following a 369-point slide yesterday and a global rout."

Link: http://www.theaustralian.news.com.au/st ... 18,00.html

Everyday this is looking worse and worse.

[Derek Ortt]

here is something worth considering

In March 1999, the NASDAQ was at ~5300

It is now at ~1750

[george_r_1961]

What has to happen before they suspend trading?

[RL3AO]

What has to happen before they suspend trading?

In the event of a 1100-POINT decline in the DJIA (10 percent):

Before 2 p.m. = 1-HOUR HALT
2-2:30 p.m. = 30-MIN. HALT
After 2:30 p.m. = NO HALT


In the event of a 2200-POINT decline in the DJIA (20 percent):

Before 1 p.m. = 2-HOUR HALT
1-2 p.m. = 1-HOUR HALT
After 2 p.m. = MARKET CLOSES


In the event of a 3350-POINT decline in the DJIA (30 percent), regardless of the time, MARKET CLOSES for the day.

[Brent]

What has to happen before they suspend trading?

In the event of a 1100-POINT decline in the DJIA (10 percent):

Before 2 p.m. = 1-HOUR HALT
2-2:30 p.m. = 30-MIN. HALT
After 2:30 p.m. = NO HALT

Basically, we're screwed if it crashes after 2:30.

[RL3AO]

And those numbers are set for the rest of the year (4th quarter). Even though 10% is now 950 and not 1100, it still needs to drop 1100 to be shut down.

[Derek Ortt]

and you do NOT want there to be a trading halt.

That happened in 1997... as soon as the market re-opened, it closed again. of course, the point drops were smaller

[Ed Mahmoud]

But decreasing demand as the economy tanks means sharp reductions in the price of crude oil...

[Brent]

Ouch.

Japan's Nikkei 225 dives 9.4%, biggest one-day percentage fall since Oct. 1987

Indonesia has halted trading after their major index fell more than 10% shortly after trading had started

NIKKEI 225 9,330.00 -880.00 10,210.00 10,230.00 9,240.00 01:38
HANG SENG 15,872.00 -848.00 16,100.00 16,170.00 15,828.00 00:29

Could the dow be below 9,000 later today?!

[Brent]

CNN reported Russia down 14%!!!!!!!!!!!

Massive bank bailout in the U.K.

[HURAKAN]

Dow Jones was positive earlier today but it has turned negative now:



Link: http://moneycentral.msn.com/detail/stoc ... ol=%24INDU

[Dionne]

"And the Wall, comes tumblin down"...........

[Brent]

DOW
9245.2
-201.91
-2.14%
NASDAQ
1723.22
-31.66
-1.8%
S&P 500
976.76
-19.47
-1.95%

[gtalum]

CNN reported Russia down 14%!!!!!!!!!!!

Russia and Venezuela are likely to be in worse shape than anyone else at the moment. Both have created massive new government spending based on projected surging oil prices. Now that the price is collapsing again, they have really really big problems.

[Brent]

Dow is now up.

[Brent]

DOW
9258.1
-189.01
-2%
NASDAQ
1740.33
-14.55
-0.83%
S&P 500
984.94
-11.29
-1.13%

[Brent]

Below 9,000! A year ago today it closed above 14,000 at an all-time high.

DOW
8989.21
-268.89
-2.9%
NASDAQ
1698.91
-41.42
-2.38%
S&P 500
949.4
-35.54
-3.61%

20 minutes later:

DOW
8861.3
-396.80
-4.29%
NASDAQ
1688.82
-51.51
-2.96%
S&P 500
936.56
-48.38
-4.91%

[RL3AO]

Dow 8,820.12 -437.98 -4.73%

Nasdaq 1,680.38 -59.95 -3.44%

S&P 500 932.20 -52.74 -5.35%

[RL3AO]

GM is down 20% today.

[Brent]

Good grief.

DOW
8692.13
-565.97
-6.11%
NASDAQ
1665.7
-74.63
-4.29%
S&P 500
918.82
-66.12
-6.71%