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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.
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.
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%
Originally posted by JacKatMtn
What should us nonmarket savvy expect from today?