STORM2K

Really scary now. We might be looking at 1987 all over again.

Global stock markets have tumbled, with European indexes set for some of their biggest losses in recent years, amid growing fears of a recession in the US. London's FTSE 100 index fell 4.5% to 5,637.3. In Paris the Cac-40 fell 4.6%, and Frankfurt's Dax dropped 6.7%.

US markets are closed for a public holiday on Monday. Brazil's main index, the Ibovespa, opened 6% lower.

http://news.bbc.co.uk/2/hi/business/7199552.stm

The FTSE has lost nearly 1,000 points in the last month alone.

As of now (15 minute delay):
FTSE down 278.80 points (4.72%)
CAC down 299.75 points (5.89%)
DAX down 487.91 points (6.67%)
Nikkei closed down 535.35 points (3.86%)

Not good reading.

Continues on a downward spiral. Really bad news.

MARKET DATA - 16:36 UK
FTSE 100 5618.4 -283.30
Dax 6813.3 -500.85
Cac 40 4788.0 -304.38
Dow Jones 12099.3 -59.91
Nasdaq 2340.0 -6.88

MARKET DATA - 16:51 UK
FTSE 100 5578.2 -323.50
Dax 6790.2 -523.98
Cac 40 4746.2 -346.24
Dow Jones 12099.3 -59.91
Nasdaq 2340.0 -6.88

Falling... falling.... falling...

40 points in 15 minutes. Not good.

The Dow is closed today.....

Good thing the Dow was closed. It saved itself from a massive plunge.

Toronto just after opening was down 500 points!

Dow will plunge tomorrow.

AP
Stock Markets Plunge Worldwide
Monday January 21, 12:04 pm ET
By Toby Anderson, AP Business Writer
Stocks Plunge Worldwide Amid Pessimism Over US Stimulus Plan


LONDON (AP) -- Stocks fell sharply worldwide Monday following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession.
U.S. markets were closed for Martin Luther King Jr. Day, but the downbeat mood from last week's market declines there circled through Europe, Asia and Canada. The U.K. benchmark FTSE-100 dropped 4.7 percent to 5,625.20; France's CAC-40 Index plunged 5.9 percent to 4,793.39, while Germany's blue-chip DAX 30 slumped 6.74 percent to 6,821.42.

In Asia, India's benchmark stock index tumbled 7.4 percent, while Hong Kong's blue-chip Hang Seng index plummeted 5.5 percent to 23,818.86, its biggest percentage drop since the Sept. 11, 2001, terror attacks.

Canadian stocks fell as well, with the S&P/TSX composite index on the Toronto Stock Exchange down 4.8 percent. In Brazil, stocks plunged 6.9 percent on the main index of Sao Paulo's Bovespa exchange.

Investors dumped shares because they were skeptical that an economic stimulus plan President Bush announced Friday would shore up the economy that has been battered by problems in its housing and credit markets. The plan, which requires approval by Congress, calls for about $145 billion worth of tax relief to encourage consumer spending.

Share prices in Japan and South Korea continued to fall sharply on Tuesday, a day after global stock indexes tumbled amid fears of a recession.

Japan's benchmark Nikkei index plunged 1.5% in the first minute of trading.

Korea's Composite Stock Price Index, meanwhile, had dropped 3.4% shortly after the markets opened.

The falls came a day after stock indexes around the world saw the biggest drop since the terrorist attacks of 11 September 2001.

http://news.bbc.co.uk/2/hi/business/7201658.stm

August 13th, 2007. I thought I saw this coming. Here it is. Is it just me, or is this going to suck hard?

Squarethecircle wrote:August 13th, 2007. I thought I saw this coming. Here it is. Is it just me, or is this going to suck hard?

The oncoming (or current) recession is going to be different than previous events because the world is so much more intertwined than before. The U.S. is the worlds largest consumer, but other coutries have become large consumers as well. It is possible that many industries/professions will not suffer too much while others are devasted.

Got a mail today from emergencyemail.org:

http://www.emergencyemail.org/newsemerg ... ?a=280&z=1

Hang on to your hats, tomorrow is gonna be a rough day.

Wouldn't be surprised to see a Fed rate cut tommorow before the markets open.

Day Two closes:
Hang Seng down 8.7%
BSE Sensex down 7.4%
Tokyo Nikkei down 5.7%. Change on year since Jan 1: -18%
Korean Kospi down 4.4%
Sydney ASX down 7.1%
Shanghai Composite down 7.2%

On the day:
London FTSE down 0.19% (was down 3% at opening)
CAC 40 down 1.03%
DAX down 2.97%

Another e-mail from emergencyemail.org:

http://www.emergencyemail.org/newsemerg ... ?a=281&z=1

Fed Reserve has cut interest rates by 0.75%.

I think this will only be a temporary fix; the Fed can't keep cutting interest rates every time the markets slide. I wouldn't be surprised to see the selloff resume as early as tomorrow.

It's gonna be a heck of a week!