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Asian markets plunge on fears crisis is spreading

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posted on Oct, 6 2008 @ 05:43 AM
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Asian markets plunge on fears crisis is spreading


biz.yahoo.com

SINGAPORE (AP) -- Asian stock markets plunged Monday as government bank bailouts in the U.S. and Europe failed to alleviate fears of a global financial crisis that would depress world economic growth.

Investors took scant comfort from Washington's passage of a $700 billion bank bailout on Friday, focusing instead on a dismal U.S. jobs report that suggested the U.S. economy -- a vital export market for Asia -- could slide into a recession.

As the financial turmoil deepened in Europe, Germany on Sunday announced a bailout package totaling 50 billion euros ($69 billion) for Hypo Real Estate, the country's second-biggest commercial property lender, after a rescue plan by private lenders fell apart. The move was part of a scramble by European governments to save failing banks.

Across Asia, all markets were in the red. Tokyo's Nikkei 225 index fell to its lowest level in 4 1/2 years, sinking 4.25 percent to 10,473.09.

Hong Kong's Hang Seng index slid 4.3 percent to 16,927.87. Markets in mainland China, Australia, South Korea, India, Singapore and Thailand also fell sharply.

In Russia, the RTS stock index tumbled more than 7 percent in first 20 minutes of trading.
(visit the link for the full news article)


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posted on Oct, 6 2008 @ 05:43 AM
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Not starting this week off on a good note now are we. With the amount of people saying **SNIP** is going to hit the fan this week, has got me all stressed, and this does not help, I can't wait but don't want to see what our markets do today I dunno, I hope they go up but.... yea I dunno


Yea... this is not a one liner for sho!






biz.yahoo.com
(visit the link for the full news article)


Mod Edit: Profanity/Circumvention Of Censors – Please Review This Link.


[edit on 6-10-2008 by Crakeur]



posted on Oct, 6 2008 @ 05:47 AM
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reply to post by tensetek
 


Indonesia had the largest decline in their history today. It is bad everywhere.



posted on Oct, 6 2008 @ 05:50 AM
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I have heard somewhere that the new world would fall in 2008 I cant remember who it was that fortold of this event but I have waiting for the last few years to see if it was true and here we are



posted on Oct, 6 2008 @ 05:59 AM
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Asian markets down 4-5%
European markets in the negative 3-4%

the US is showing futures down 1-2%, sheeze, we are always lagging,
and behind the curve.... i guess the resistance is we have an Ostrich strategy & refuse to see the systemic failure of the markets & the lack of public confidence the markets are realistically priced



i don't think its just the outlook of a economic recession and lower profits...
its a realization that the industries and their products are priced correctly for an ever-expanding credit consumption model ---
But that model is now Kaput



its now the time to unwind the excessive valuations @ 15-20X earnings!
and reset stock prices at 1-1.5X earnings=
and severely reduce executive pay & bonuses for the new, thrifty & low-key, minimum profit margin style of business model which will be the most advantageouse way to generate sales in such a tight market condition.


Everything is ratcheting down--- wages, prices, valuations, profits, for those still in the system.

[edit on 6-10-2008 by St Udio]



posted on Oct, 6 2008 @ 06:09 AM
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Originally posted by St Udio
...
European markets in the negative 3-4%
...


They are even worse now. Interesting beggining of the week.



posted on Oct, 6 2008 @ 06:16 AM
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I think the title of this thread should be amended slightly from 'fears' to 'realization' . . .

The MSM would like us to think that this is all happening random and by-the-second, but I truly believe this is so damn scripted . . . it is part of the process of further polarizing the socio-economic strata of the world until there is a clear deliniation between the 'haves' and the 'have-nots' or, as it is better known among those of our ilk . . .

Welcome to the New World Order.



posted on Oct, 6 2008 @ 06:19 AM
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Swiss Market Index (SMI) is currently down around 4,8%, it's indeed bad everywhere.



posted on Oct, 6 2008 @ 06:27 AM
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Originally posted by Swordbeast
Swiss Market Index (SMI) is currently down around 4,8%, it's indeed bad everywhere.


yeah, but if you notice the charts, the drop has stopped, so it's like a bad wound, the rist step, stopping the blood is done, it's another lousy day, but just that. Not the end.



posted on Oct, 6 2008 @ 06:37 AM
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As far as I'm concerned, the Web-bot guys and Timewave Zero are both already well on their ways to being proven worthy of serious attention:

Panic engulfs global stock markets

It need not get much worse for them to be any more correct.

This mentioned global 'panic' alone could be enough to cause the October 7 downturn.



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