Will this be Black Friday? - 10/10/08

Asian markets dropping like a rock!!


Euro markets in free fall mode after opening at -10%!!


Austrian markets halt trading due to massive losses!!


Could this be the day that all of the doom sayers have been predicting? What is going to happen when the bell rings and the US markets open today?

Brace yourselves people... things are off to a rocky start. Im s****** bricks right about now. This is just madness.

More to follow.....



[edit on 10/10/08 by BlackOps719]

yes.

abnd I only say that bvecause uit was b ound to happen . leke locus ona a something or other. the point is, crash baby carash/. thats what I say/

Fear Grips Investors as Global Equities Routed

LONDON (Reuters) - Europe joined Asia's panic selling in stocks on Friday, knocking the benchmark world equity index to a 5-year trough, while the low-yielding yen jumped as fears grew that efforts by policymakers are insufficient to contain the global financial crisis.


Equity trading in Russia, Iceland, Romania, Ukraine and Indonesia has been halted while nearly half of Milan stocks are suspended for excessive losses, just hours before finance chiefs from Group of Seven rich nations meet in Washington.

Yahoo

I'm not too willing to say... If there's a miracle, and a rally, and golden eggs rain from the sky, then I'd be proven wrong and look quite a fool.



But the markets are finding the bottom...

And who knows, perhaps Mr Bush will announce another miracle for the US.

Like the bail out. Or... a co-ordinated rate cut perhaps?

That will definitely fix it. But that's the problem, governments everywhere are clambering to find the quick fix and there's no such thing.

Australias Black Friday is almost finished. It looks really bad and our Treasurer is currently in Washington with the Treasurers of 7 other countries trying to find solutions with Washington.

The benchmark S&P/ASX-200 stock index recorded its biggest one-day loss in its 16-year history, dragging the value of the main share index below $1 trillion. The broader All Ordinaries recorded its worst day since the October 1987 crash.
business.smh.com.au...

Hope you guys have a better day tomorrow than we had.

[edit on 10-10-2008 by Flighty]

i hope not but more than likely it will be.

GM is suppose to release their earnings or lack thereof, Bush is going to address the nation at 10 am eastern. Morgan Stanley and Goldman Sachs might have their rating cut. the Nikkei tanked again today. European markets plummeted, dow futures have been down almost all night.

I'm going to find a deep dark whole and hide today.

I just want to here Bush tomorrow say "we need to avoid the ongoin recession". That would be a luagher:

ap.google.com...

G-7, With `Backs Against the Wall,' Weighs Loan Guarantee Plan

Oct. 10 (Bloomberg) -- Finance ministers and central bankers from the Group of Seven nations meet today facing a breakdown in investor confidence in their ability to end the credit freeze endangering the global economy.

Threatened by the worst economic outlook in a quarter century, officials arrived in Washington still without the broad- based strategy that investors were seeking, raising the risk of further turmoil if their remedies disappoint. Among the options being considered: a proposal by U.K. Chancellor Alistair Darling for nations to guarantee lending between banks, a suggestion that U.S. Treasury Secretary Henry Paulson hasn't ruled out.

Unprecedented interest-rate cuts and bank bailouts failed to quell panic in markets, leaving policy makers under pressure to pull even more policy levers. The Dow Jones Industrial Average yesterday plunged below 9,000 for the first time since 2003 and credit markets remained frozen.

``Global policy makers have their backs against the wall -- they have nowhere to run, nowhere to hide,'' said Marco Annunziata, chief economist at Unicredit MIB in London. ``Do not underestimate how hard they are going to fight back now.''

Bloomberg


What good will come of this conference?


Is the world economy hinging on what comes out of this meeting? Seems that the world is in panic mode right now.

I hope not but my arm is acting up so I think it might be today sadly. The last time my arm did that was when the economy began to crash. Does anybody else have those issues?

Yes I think it will crash today AGAIN unless the govt decides to play another shell game and pull the proverbial rabbit out of their hat to try to stop it, which thus far hasn't helped.

Pres. Bush is going to speak on TV at 10 and just as when Bernanke did this week earlier I predict the stock market will dive the entire time he is talking to us trying to assure us it will all be OK.

I'm with Plucky. crash baby crash. I have had enough of this. Let it hit the bottom with no more interference and then we can try to go up from there.

Originally posted by mattguy404
I'm not too willing to say... If there's a miracle, and a rally, and golden eggs rain from the sky, then I'd be proven wrong and look quite a fool.

But the markets are finding the bottom...

And who knows, perhaps Mr Bush will announce another miracle for the US.

Like the bail out. Or... a co-ordinated rate cut perhaps?

That will definitely fix it. But that's the problem, governments everywhere are clambering to find the quick fix and there's no such thing.

The problem is nobody seems to have a clear idea of where the BOTTOM will be?

I find it hard to believe that people will wait much longer before massive bank runs begin to take place. Judging by another post they already seem to be happening in Australia as we speak.

What happens if Shrub delivers bad news and everyone makes a mad dash to the banks?

Originally posted by Mercenary2007
i hope not but more than likely it will be.

I'm going to find a deep dark whole and hide today.

Im thinking about finding a hole right about now myself


Doesnt sound like a bad idea right about now

i also seen in a thread around here somewhere that hungry might have collapsed as well tonight, and there was rioting in the streets of Thailand also.

the pucker factor is really high.

Plucky dear your always good for a laugh.

Blackops nothing good will come out of the g-7 meeting. they have no clue honestly how to proceed to try and slow this monster

reply to post by Mercenary2007


You hit the nail on the head. All bad news for today's opening of the NYSE. No end in sight. A week or two ago I predicted the DOW to bottom out at 8500, however, I did not expect it to come so soon. I still feel things are going to get a lot worse before they get any better.

We are witnessing financial history in the making. They will be talking about this last week for decades to come.

WOW, things are so bad that CNBC's Skwak Box decided to come on the air an hour early. I wonder who made that decision?

reply to post by BlackOps719


a deep dark whole with a hot blonde is what i'm really thinking, hey if nothing bad happens to the market tomorrow well atl least i can have fun alone with a hot blonde

It's on the news here in Holland..........European -10%
Financial injections from government don't have the results they were hoping for......

reply to post by BluegrassRevolutionary





Could this be the day we see the first 1,000+ DECLINE?


Would trading subside or be halted were this to occur?


I read in another thread that Japan has suspended trading INDEFINITELY!!!

What the hell does that mean?

Originally posted by seejanerun


I'm with Plucky. crash baby crash. I have had enough of this. Let it hit the bottom with no more interference and then we can try to go up from there.

Dont say that man, the implications to that would be horrific.


Ever wonder what hell would be like? 300 million angry, hungry and financialy ruined people. Im thinking it is time to panic.

reply to post by BluegrassRevolutionary


i heard someone say thursday i keep wanting to call it today since i haven't been to bed yet. that they thought the bottom would be 7500 at the lowest but i got a gut feeling we might see 6,000 before seeing a slight rebound.

Blackops in another thread i said an 800-900 point drop again today but that was before the European markets opened. we just might see the first 4 digit loss today

reply to post by Mercenary2007





Im with you, I started watching CNBC reporting on the Asian market crash and I havent been able to even think of going to sleep.


Im freaking out right about now. There are people who will lose everything today.