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World Markets Plunge - DJIA Futures Down Nearly 500 Points

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posted on Jan, 22 2008 @ 04:13 AM
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Yep. If only ONE country pull out fast of the US dollar, it will crashes because everyone will sell it. The entire world economy is based on the US dollar. When the US dollar isn't worth jackshiat, the elite with their strong currencies, euros or something else, will then come in the US, pay off politicians more than ever before and buy roads, nuclear plants, corporations, debt, pension funds, EVERYTHING. Why? Because your politicians are GREEDY and CORRUPT.

You think the corruption and the police state is bad NOW? Just wait.

The word in the elite is that the US will no longer exist in the future... probably within 20 years.

The US is at a turning point in it's history, and so is the world. Enjoy the ride.

I'm in Canada and our dollar is weaker than yours... which makes me cry.


[edit on 22-1-2008 by Vitchilo]




posted on Jan, 22 2008 @ 05:15 AM
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reply to post by SectionEight
 





That is some seriously scary stuff. Too bad all the NWO types are too busy railing against the US than praising it for the only nation to standup to and go against the Kyoto protocol. Really f'd up world we live in.


HI Section, Exactly!



posted on Jan, 22 2008 @ 05:21 AM
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Originally posted by Dulcimer

Originally posted by CyberSEAL
We need to go through this and come out on the other end with a _real_ world economy.



Bring back the barter system!



Been doing that for years my friend,



posted on Jan, 22 2008 @ 05:24 AM
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reply to post by Vitchilo
 


I thought the US dollar was less than Canada's as of recently.



posted on Jan, 22 2008 @ 06:15 AM
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London seems to be holding through midday trading but the Asian market was another story:


Tokyo falls 6%, Hong Kong 9% as rout continues

Asian stocks came under relentless selling pressure for the second straight session on Tuesday, a day after fears the U.S. economy could slip into a recession triggered a sell-off that spread to Europe and Latin America.
India's Sensitive Index was the most volatile in the region and suffered the steepest intraday losses for the second straight session. The index, which finished 7.4% lower in the previous session, was recently down 8.9% at 16,040.13. At that level, the index has already lost around 16% from Friday's close.
Things were equally downbeat elsewhere.



Have they learned something that we don't know yet? Is Gools on the money with an Emergency rate cut in the offing?



posted on Jan, 22 2008 @ 06:27 AM
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reply to post by JacKatMtn
 


London, Paris and Frankfurt did AMAZINGLY well during the morning session, JacKat...So too did Dow futures, up 170 pts from the bottom just now...

Problem is, Europe is starting to weaken...Both London and Paris were in the green after the first hour of trade, they've now come off a bit into the red...This might be due to light trade during lunchtime or something, I sure hope so...

I hate to see a selloff in Europe in the afternoon just when Dow futures had recovered 20% or so...

Peace



posted on Jan, 22 2008 @ 07:11 AM
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Well, it's finally hit CNN.com

"Wall Street Set To Plunge.."
"Yahoo lays off hundreds"
"Investors spooked worldwide"
"Treasury Secretary Paulson says Congress, Bush administration need to agree quickly on measures to boost economy, calm markets."

Doom and gloom. Somehow the idea of Bush coming up with measures to boost the economy isn't all that comforting. I can't help but think that he might play just a tiny part in creating this mess. Forgive me if I am not optimistic.



posted on Jan, 22 2008 @ 07:17 AM
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reply to post by Karlhungis
 


Nah, nothing to forgive Karl
It's perfectly OK to feel that way about things, I'm just a bit of an optimist by nature...

Unfortunately, most of Europe is now off a little bit, meaning anywhere from 0.5% for London to 2.5% for Frankfurt....A lil disappointing, but there is a few hrs to go there...

Dow futures are now down around 550 pts, which is lower than it was an hour or two ago...

Again Karl, wait and see is the way to go...No need to preempt or jump the gun...

Wednesday will be far more important IMHO, after Asia has had another day of trade after a full day of US trade, and Europe has had a half day of trade after a full session on Wall St

Wednesday on Wall St we'll know a lot more about what is really going on and what might happen near term...

Peace



posted on Jan, 22 2008 @ 07:33 AM
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Fed funds rate just lowered by 3/4 point. Helping out the banks I see and giving the old stiff finger to the people. Wrong choice at this time.



posted on Jan, 22 2008 @ 07:40 AM
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Gools was correct



Fed cuts rates 75 basis points in emergency move

Hoping to prevent a market meltdown and recession, the Federal Reserve lowered its overnight lending rate by 75 basis points to 3.50% on Tuesday in a rare move between formal meetings.
The cut came after global financial markets sold off in dramatic fashion on fears that bad bets in credit markets could spread further and drive the U.S. economy into recession. See full story on London markets.
It was the largest rate cut by the Fed since the early 1980s.
The Fed also lowered its discount rate by 75 basis points to 4%


I have to wonder who knew of this before hand since the European market bucked the trend set by another bad sell off in Asian markets.

Talk about panic selling, how about panic rate cutting?

I wonder if those hammered in the other markets would have appreciated some inside info on this emergency rate cut?

While the news has had an instant effect on the futures, DJIA -363.00 from -500+ less than an hour ago, will this actually do anything in the long run?



[edit on 1/22/2008 by JacKatMtn]



posted on Jan, 22 2008 @ 07:41 AM
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reply to post by Escrotumus
 


Holy Hell !!!!

Just saw that on Yahoo finance, Escro...You was mighty quick


I honestly don't know what this is going to do...Something deep inside says bad, bad, bad over a month or two...

The market gets greedy, ya see ? They had a couple cuts last few mths, not enough...

So the participants take their bat and ball and go home, and thus hold the Fed to ransom cos average investors suffer if the Fed doesn't cut...

Sick, really...

Interesting thing is, right after the Fed announcement, Dow futures were -241, now, they're -407 again...

Volatility isn't the word here...

Is become desperate, crazy and irrational...We might see a huge drop despite what the Fed has done if futures prices are any indication over the last 10 mins or so...

See....Now as I finish this post, Dow futures - 332...Insane !!!

Helmets, elbow guards, knee pads and mouth guards folks

Hold on tight !!!



posted on Jan, 22 2008 @ 07:43 AM
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reply to post by JacKatMtn
 




isn't it interesting and strangely coincidental that all the world indices
chose the exact same extended holiday in the USA weekend to sell off
their holdings in both their own markets and their substantial holdings in US corporations?

one might opine that the foreign financial movers & shakers,
deliberately waited for the time when US markets and financial houses were closed on Monday 21 Jan....and having the advantage of 2/3rd of Tuesday 22 Jan to make their moves at selling off
& leaving the U.S. holders of foreign equity standing at the gate?!
unable to make money saving strategies...for wealth preservation


meanwhile the big, foreign, wheelers-dealers & market movers are laughing
all the way to the bank, before they could lose more of the fast devalued dollar.



posted on Jan, 22 2008 @ 07:47 AM
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At the end of the day, there is some serious resistance on the futures chart @ 11700...

If the Dow can't finish above or around that mark, look out !!!

It will mean what the Fed did was for nought and that much bleaker times are ahead...

I still stand by my suggestion that wednesday will be much more important for US markets than today...

Peace



posted on Jan, 22 2008 @ 07:48 AM
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reply to post by St Udio
 


I know what you are saying, for all the talk of the US investors panicking or hints of a panic, look at who actually made the big sell as the US markets were closed.

All this financial stuff just makes me angry, some say the government has no effect on the market, I don't know, everytime the FED does something, the market moves, while it may not be a longterm effect it sure has made a BIG difference already today since the rate cut announcement.


After an intial strong upturn on the news, the DJIA futures have started slipping again as I type it is over -420 again.

What should us nonmarket savvy expect from today?



[edit on 1/22/2008 by JacKatMtn]



posted on Jan, 22 2008 @ 07:49 AM
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You have the Russians the other day saying that pre-emtive Nuke Strikes are an option and now NATO is told the same thing today.
www.guardian.co.uk...

Putin flexing over here...
www.timesonline.co.uk...

Super Bugs here
www.breitbart.com...

And the Panic of 08 according to Drudge over here.
finance.myway.com...

Is this the perfect storm. Are we at the begining of a Great Depression and the only way out is once again WAR? Limited Nukes with conventional forces? Is the Election of 2008 going to happen or is King George going to stay and oversee the war to end all wars?



posted on Jan, 22 2008 @ 08:41 AM
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The fact that the Fed has announced this unprecedented 0.75% ratecut early may be seen as a sign of desperation by the markets. Despite the initial bounce in the futures, it hasn't taken long to pare most of the gains!

One should not forget that futures are a zero-sum game - there is no actual money made, it is just redistributed among the participants. Unfortunately, the only education most small-time investors receive is Buy, Buy, Buy stocks, which is why a tiny minority end up with the vast majority of the wealth...



posted on Jan, 22 2008 @ 09:18 AM
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The interest cut first thing this morning was to help the financial institutions to have something to help the fall out due to today looks less striking.

But remember is only a stimulus until the world banks can come out with another bail out.



posted on Jan, 22 2008 @ 09:20 AM
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Originally posted by JacKatMtn
What should us nonmarket savvy expect from today?

I'm guessing no more than a 3% drop.
I wouldn't be surprised at all if it finished positive




I see people are making the mistake of thinking the Stock Market is our economy. While sometimes usually a good indicator of how the economy is doing it certainly isn't the only indicator nor the best one. The economy is still growing, our GDP is still growing, unemployment is stable and still fairly low.
Economic slowdown? Likely. Recession? Certainly a possibility. Depression?
We didn't even have a depression in the '70s or late '80s when the economy was doing worse. I know the doom and gloomers like coming out at times like this, but reality is a full blown depression is very unlikely.



posted on Jan, 22 2008 @ 09:25 AM
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reply to post by ThatsJustWeird
 


I would be more than happy to wager the Dow does not end in positive territory on Tuesday...I am certain you would not be prepared to wager it does...

Prove me wrong, eh ?

The Dow will end up down several %, and Wednesday will be the clincher....How the rest of the world react to the Fed cutting by 75...



posted on Jan, 22 2008 @ 09:35 AM
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For folks info...

The Australian ASX200 futures market is up more than 150 pts @ 2.30 AEST !!!

Could be a very interesting day in Asia today (tomorrow)

Peace



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