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India's Stock Market Crashes
Posted: Mon May 17, 2004 6:38 am
by stormraiser
India's Mumbai stock exchange halted trading for an hour after the Sensex slid 10.9 percent. The benchmark had dropped 6.1 percent Friday after the new government, led by Sonia Gandhi's Congress party, said it won't sell profitable state assets.
The Securities and Exchange Board of India, the market regulator, is investigating Friday's decline, it said in a statement obtained by fax this morning.
I have heard rumblings of a global crash, and hope this news from India is nothing big, but it may be time to move your investments.
Posted: Mon May 17, 2004 7:08 am
by TexasStooge
OH CRAP!!! That is not good!!!
Posted: Mon May 17, 2004 7:21 am
by wx247
Oh goodness... we will have to wait and see how the markets react today to this news here in the good ole USA.
Posted: Mon May 17, 2004 7:24 am
by wx247
DOW FUTURES ARE DOWN -106.00 right now.
Look for a huge trade off in the opening moments. We shall see how the market responds the rest of the day!!!
Posted: Mon May 17, 2004 7:25 am
by cycloneye
Maybe part of the selling around the world is due to the killing of Iraq's president of the governing council.
Posted: Mon May 17, 2004 7:27 am
by wx247
cycloneye wrote:Maybe part of the selling around the world is due to the killing of Iraq's president of the governing council.
That is likely, too, Luis. Both will likely shock the market early on.
Posted: Mon May 17, 2004 8:37 am
by Lindaloo
I do not like this not one bit!!! There was huge selling going on right before Sept. 11th.
Posted: Mon May 17, 2004 8:42 am
by wx247
Lindaloo wrote:I do not like this not one bit!!! There was huge selling going on right before Sept. 11th.
Am I to infer what I think I am supposed to infer??
Posted: Mon May 17, 2004 8:46 am
by Guest
wx247 wrote:Lindaloo wrote:I do not like this not one bit!!! There was huge selling going on right before Sept. 11th.
Am I to infer what I think I am supposed to infer??
Let's pray not. These are scary times....
...Jennifer...
Posted: Mon May 17, 2004 8:48 am
by Lindaloo
I agree!! Very scary.
Posted: Mon May 17, 2004 8:51 am
by stormraiser
It seems a lot of it has to do with Sonia Ghandi being a foreign born woman. The Hindu Nationalists don't want her to lead them. She is unable to form a majority coalition government so she will be the PM, but with a minority government.
Posted: Mon May 17, 2004 9:00 am
by wx247
Since a lot of our companies are outsourcing jobs over there, I guess it would make sense that we would take a hit if their stock market did, too.
Posted: Mon May 17, 2004 9:08 am
by stormraiser
True Garrett
Posted: Mon May 17, 2004 9:08 am
by Stephanie
I forgot about that Lindaloo.
Right now the reaction in the US is NOT GOOD!
It just feels like things are getting more and more unstable in this world!