Japan's Nikkei Falls Nearly 11%

reply to post by 2 cents

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They never actually opened their market today. My wording may have been misinterpreted or misused. I don't know specifically why but my guess is they didn't want a second midday suspension. They watched what happened with the nikkei and had to make a decision.

edit: Looks like the nikkei is holding around -900. With everything we've seen the past few days and the massive sellouts in the last hours of virtually all trading sessions, how far will this be down? It will have to make some kind of rally to prevent being down another 300 pts.

[edit on 9-10-2008 by Universal Light]

reply to post by Universal Light

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well I have to get some sleep. I wonder what I will wake up to tomorrow morning. The Nikkei would need to rally in a big way to even close down just several hundred. What is Europe going to do today?

BTW the Nikkei has now shot past the Dow our global race to the bottom.

edit: Dow futures are -255

[edit on 9-10-2008 by 2 cents]

reply to post by 2 cents

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Wake up early. Not trying to be so doom and gloom but you can't be sure what you might be waking up to tommorow. Peace

reply to post by 2 cents

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Wake up early. Not trying to be so doom and gloom but you can't be sure what you might be waking up to tommorow. Peace

reply to post by Universal Light

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OK..thanks UniversalLight for the insight. I believe there is a "New World
Order" section of ATS. I've never looked at it because the concept
seemed too far out, but now seems a good time to go pay them a visit.
Have a good night. I'm glad that you are operating at a higher level than
most of humankind. It must be nice being at peace amongst so much
bedlam swirling around you. -cwm

don't stop thinking 'bout tomorrow
don't stop, it'll be soon here
it'll be here better than before
yesterday's gone, yesterday's gone..."

India's Sensex has fallen 9.6% in opening minutes of trading to 10,241.37.

So two days ago we called for a cut... they did cut rates... but now it's plundging again... by over 9%...

The DOW futures are already down 201 points.

Seriously. Cut rates again or -800/900 points... -10-11% tomorrow.

reply to post by anachryon

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Saw that. The European market is going to get murdered on opening. Check out the futures

reply to post by Vitchilo

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Not being rude but what do you think they cut to? *chuckles* 0.5% or 0%?!?! There's nothing left.

Russia's MICEX has been suspended for the day according to CNBC. They were to reopen today after being suspended on Wednesday.

reply to post by Vitchilo

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Cutting rates is what got us into this mess. Cheap, easy, sloppy credit injected into the system by Greenspan.

To LowLevelMason: What mainstream media are you watching? The MSM is trying to cause a panic over this? I call shenanigans on you. Every single damned time I've turned on any cable news channel outside of the financial channels, all they've been blabbering on about is McCain/Obama, Obama/McCain, is he allied with terrorists? Is he too old to lead? Has he waited to long to make a move? Has he satisfactorially answered questions about his devotion to this country, etc, etc, etc. If anything the MSM is totally trying to divert people's attention away from the fact that the rug is being yanked right out from under the world by distracting them with the shiny trinkets and bilabial fricative farting sounds of two pointlessly identical candidates in a meaningless campaign when compared to the real crisis going on right now.

Also, your talk about Japan shedding 80% of their market value since 1989 and comparing that to the US is complete crap. First of all, we haven't dropped 39% since 2003, we've dropped 40% in exactly ONE YEAR! At our current rate, it isn't a stretch to say that we could see an 80% attrition of value before this is finally said and done. Do you realize that we've shedded 23% of our market's value since last Monday alone? Allow me to assist you on the math for a moment... at the current rate of losses, we'll leave the Nikkei's percentage losses over the past 19 years in our dust before Halloween. (Let us all hope and pray that we do not see the current rate of losses continue because I almost promise you if we see the market in the 3,000s anytime soon it will mean that almost all of us have lost our jobs, have no access to any form of credit, and probably have urban warfare being waged around us.)

Anyone else who knows: Is the fact that the dollar is losing to the yen right now possibly a good sign? I'm not very learned in currency markets, but I noticed that when our market first started this huge slide last week the dollar immediately began an upward march in value. If that march is now over, could that indicate a possible ebb in this massive sell off or am I grasping for straws of light here?

Yeah. Cut to 0. Like Japan did back in the 90s.

It will be funny tomorrow. For the doom sayers. And those who short.

They sure have to do something before it opens otherwise it will be total mass raping.

[edit on 10-10-2008 by Vitchilo]

The Nikkei has closed -881.06 at 8276.43, down 9.62%.

European markets are opening now. Massively high volume is preventing accurate numbers out of the gate, apparently - I've never seen that before. O_o

EDIT: Norway -10%, France CAC down -8.5%, UK FTSE off over 7%

[edit on 10/10/2008 by anachryon]

Hang Seng is down 9.4% 14,443.12 after their lunch break.

European stocks are down hugely across the board. The analysts on Squawk Box are saying "I've never seen anything like this."
FTSE -8%, CAC -10%, DAX -10%

And while this is armageddon on the financial markets, Bernanke and Paulson are sleeping and the CEOs are drinking beers with 5000$ a night hookers... with taxpayers money.

Nice.

The DOW will drop MASSIVELY tomorrow. The futures are already down 289 points.

The FED must do something or it will be hell.

I would not be surprised at all to see another global interest rate cut today. Seeing how badly Asian markets closed, the folks in EU must be thinking the same thing.

Cheers.

After a massive plunge, all major Euro markets have settled for the time being to -6.5% to -7.5%. All were down 9-10% in the minutes after open.

Hang Seng is down 9% and the Straits Times is down 8%.