Stocks Wipe Out As Fears Grow

Hong Kong's Hang Seng plunging 7.2 percent on market opening....

Getting ugly now.

I see that, in reall time, here:

finance.yahoo.com...

Hopefully I can sleep tonight, just to wake up and get some ammo and food.

reply to post by Terrapop


That isn't good.. Do you think its going to be an indicator as to what will happen at the opening of our market since China holds so much of our wealth? Also, do you think how the European markets open will be a better indicator of how our markets will do for the day?

Wow the whole house of global finance is going into the toilet.

But that isn't the big disaster.

Credit to the economy is like motor oil to an engine.

If the credit markets seize up for any length of time, which it seems like it will, this week won't seem so bad as compared to what the future can hold. Imagine all the businesses that require credit, from the start-ups to the blue-chips, and can't get their credit to operate.

Chain reaction time.

[edit on 18-9-2008 by wutone]

can someone explain why the hangseng shows no activity from around lunch time onwards?

I have no idea, is that normal?

reply to post by Agit8dChop


It might just be the usual time for the market to close.

But dang that is a huge drop.

Thats the thing, according to cnn world markets it was still open.

china's only 1 hour behind Me, and we closed only half an hour ago.
that graph shows no action from china for hours...

reply to post by Agit8dChop


I haven't seen any other news aside from the usual global market losses.

If the Hang Seng was closed by officials like the Russian market was, that should be all over Bloomberg or Drudge

Yep, thats what I was thinking.

But it doesnt change the fact that the graph and the % loss havent changed since a little after 1230pm.
I just checked, hong kong is the same time as Perth, where I am.

Its 3:30pm in Hong Kong and Beijing right now.

That means, there's been no activity on the Hang Seng since lunch time.
for almost 4 hours its been dead.. unless that graph is incorrect, but ive been watching it all day and that % drop hasnt changed.

reply to post by Agit8dChop


European markets open soon. That will also give us some indication of what US markets will do today. Its chicken and egg territory with the markets. US drops yesterday, effects Asian markets, both will effect European markets and then both Asia and Europe, cause reaction on US markets today. This is one of the problems of the reach of globalization, everything is connected now and no market is insulated from the other.

Its hard to make predictions about the US markets, more buyouts, bailouts and financial troubles could cause it to drop further but sometimes the day after a huge drop you see investors bounce back and start buying because everythings is low.

If I had to guess, I would say that there will be slight gains in the Dow today(18th) and if there is more news on more financial giants, you will see huge losses tomorrow to finish the week with the Dow under 10,000.
Oil prices will continue to drop due to lack of growth and failing markets. I would guess by the end of Sept, oil will be ~$80 a barrel and gold will be over $1000/ounce.

My market advice is buy food, medication and basic necessities.

Good luck

London is up after the merger between Lloyds and HBOS; Paris and Frankfurt are performing well too.

US futures are looking extremely strong too.

$180 billion has been pumped into the system by central bankers, so a crash is not going to happen ladies and gentlemen (again.)

[edit on 18-9-2008 by infinite]

reply to post by infinite

$180 billion has been pumped into the system by central bankers, so a crash is not going to happen ladies and gentlemen (again.)

What about inflation? You cant just print your way out of this problem. Benanke holds interest rates steady and the fed continues to bail out and pump imaginary money into the system.

reply to post by infinite


Please see:

www.abovetopsecret.com...

Thanks.

guys sorry for my ignorance, but if the stock market does crash. what is likely to happen? would this call for the instigation of martial law? does it mean people cant get money out their banks? so they cant buy food etc?

someone please elaborate

awaiting your explanation.

reply to post by infinite


You know that is nothing but an illusion of stability to keep the markets going until the psychology works.

Panic is what is keeping the markets fluctuating and downward right now.

But we still have Washington Mutual to deal with.

How long will the illusion last.

i'm not looking for a spectacular 'Crash'

i'm pretty sure that markets world wide will continue to have
'pile ups' to use a Freeway collision analogy.


right now the people (meaning investors) are uncertain about what is ahead...they hear the reports of many vehicles having the wheels fall off and piling up in the middle of the road...but they are locked inside their moving vehicle and are crossing their fingers that their ride won't plow into the debris field just around the next turn.


Back to the real time world; the Fed has insider knowledge of the ammounts of bad debts and counter-party credit swaps these large firms have on their off-book balance sheets... that's the 'what' of the apparent arbitrary decision to 'bail-out' one corp. but not the other.


The Fed is orchestrating the destruction of the worst offenders of the derivitives... bear stearns demise most likely cleared off a Trillion $$
of 'bets' that the commodities markets would fall, the oil & gold markets would fall...Other (unnamed) parties would have been liable for paying off those derivitive 'bets' that BearStearns had made...

but only if B.S. was still around to collect from those other major Insurers/investment houses/et al


now extrapolate that scenario to the firms now in trouble (as the market psychology says so) MorganStanley/MurrillLynch,CitiGroup,WashingtonMutual just to cite a few names on the hot seat.



[edit on 18-9-2008 by St Udio]

I'm in the same boat as predisposed,I have no idea whats going on.My wife's grandfather has a $25,000 CD for her.If the market crashes will she lose that?

Sorry for my ignorance here,but financial stuff was never my strong point.

[edit on 18-9-2008 by crowpruitt]

I predicted some 12 months ago this very crash and the reason behind it. That reason is martial law and a canceled election. All orchestrated by Bush's handlers. Could go on for pages but it's late so more later..

reply to post by MatrixBaller04


In financial markets, Black Monday is the name given to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short period. The crash began in Hong Kong, spread west through international time zones to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1739 (22.6%).[1] By the end of October, stock markets in Hong Kong had fallen 45.8%, Australia 41.8%, Spain 31%, the United Kingdom 26.4%, the United States 22.68%, and Canada 22.5%. New Zealand's market was hit especially hard, falling about 60% from its 1987 peak, and taking several years to recover.[2] (The terms Black Monday and Black Tuesday are also applied to October 28 and 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929. Confusingly, in Australia and New Zealand the 1987 crash is also referred to as Black Tuesday because of the timezone difference.)

For historical perspective. What you are experiencing is nothing like the past, but a more controlled and focused demolition. The economy as a whole will be just fine.

reply to post by infinite



Agreed. Last night I was telling wolf how badly I wanted to buy JPmorgan stock last night. right now it is up 2.5%. The market is up 150 points as it stands. I figured that the market was going to pick up today.