Nikkei!
- Thread starter Bonestorm
- Start date
uscitizen
Villified User
More good news.
Stock Markets Plunge Worldwide
Monday January 21, 7:05 PM EST
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 the Americas.
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.
"It's another horrible day," said Francis Lun, a general manager at Fulbright Securities in Hong Kong. "Today it's because of disappointment that the U.S. stimulus (package) is too little, too late and investors feel it won't help the economy recover."
On Monday, Britain's benchmark FTSE-100 slumped 5.5 percent to 5,578.20, France's CAC-40 Index tumbled 6.8 percent to 4,744.15, and Germany's blue-chip DAX 30 plunged 7.2 percent to 6,790.19.
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.
In Canada, the S&P/TSX composite index on the Toronto Stock Exchange fell 4.8 percent. Brazilian stocks plunged 6.6 percent on the main index of Sao Paulo's Bovespa exchange, and Argentina's benchmark Merval index fell 6.3 percent to close under 1,900 for the first time since August 2006.
"We've taken our lead from the Asian markets who have not been impressed by the U.S. There's debate if there's going to be a recession in the U.S. I don't think there's much chance of that though," said Richard Hunter, an analyst at Hargreaves Lansdown Stockbrokers Ltd. in London.
Concerns about the outlook for the U.S. economy, a major export market for Asian companies, have sent the region's markets sliding in 2008. Just last Wednesday, the Hang Seng index sank 5.4 percent.
http://finance.myway.com/jsp/nw/nwdt_rt.jsp?section=news&feed=ap&src=601&news_id=ap-d8uaj7l80&date=20080121
Stock Markets Plunge Worldwide
Monday January 21, 7:05 PM EST
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 the Americas.
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.
"It's another horrible day," said Francis Lun, a general manager at Fulbright Securities in Hong Kong. "Today it's because of disappointment that the U.S. stimulus (package) is too little, too late and investors feel it won't help the economy recover."
On Monday, Britain's benchmark FTSE-100 slumped 5.5 percent to 5,578.20, France's CAC-40 Index tumbled 6.8 percent to 4,744.15, and Germany's blue-chip DAX 30 plunged 7.2 percent to 6,790.19.
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.
In Canada, the S&P/TSX composite index on the Toronto Stock Exchange fell 4.8 percent. Brazilian stocks plunged 6.6 percent on the main index of Sao Paulo's Bovespa exchange, and Argentina's benchmark Merval index fell 6.3 percent to close under 1,900 for the first time since August 2006.
"We've taken our lead from the Asian markets who have not been impressed by the U.S. There's debate if there's going to be a recession in the U.S. I don't think there's much chance of that though," said Richard Hunter, an analyst at Hargreaves Lansdown Stockbrokers Ltd. in London.
Concerns about the outlook for the U.S. economy, a major export market for Asian companies, have sent the region's markets sliding in 2008. Just last Wednesday, the Hang Seng index sank 5.4 percent.
http://finance.myway.com/jsp/nw/nwdt_rt.jsp?section=news&feed=ap&src=601&news_id=ap-d8uaj7l80&date=20080121
FUCK THE POLICE
911 EVERY DAY
Oh yeah!
I think we're finally getting that recession!
I think we're finally getting that recession!
Or better yet, those who have to clean it up. Then again, those are generally the same people.
uscitizen
Villified User
I am beginning to wonder who that might be. No one seems to have a clue what to do about it. The ones who are responsible for fixing it were too stupid to see it coming so I expect little from them.
Topspin
Verified User
Of course you don't have a clue it takes more than a GED and constant sarcasm.
The problem is with bad lenders and borrowers, they will bleed and the fed will cut. The investor class will keep by while chicken littles like you smile amoungst the bleeding cause after 18 wrong quarters your finally right. Problem is the investors will be buying cheap and you'll jump in after its zoomed up. You really should have tried harder to get into college.
The problem is with bad lenders and borrowers, they will bleed and the fed will cut. The investor class will keep by while chicken littles like you smile amoungst the bleeding cause after 18 wrong quarters your finally right. Problem is the investors will be buying cheap and you'll jump in after its zoomed up. You really should have tried harder to get into college.