forum Politics and Society ›› Stock Market Crashes 300 points ›› new reply Post Reply
Tim E. Husk
slavar som djur
19,110 Posts
52/M/NA


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October 4 2008 12:47 PM   QuickQuote Quote  
Originally posted by: crunkmoose

Originally posted by:Hymen Holocaust

lol@ thinking a contract means anything in a depression.



5 billion dollar endowment and money already set aside within my dept. budget for my salary.





goddamn private schools. i would be gone in a heartbeat.
palealeisgreat
no
4,998 Posts
35/M/AZ


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October 5 2008 5:12 AM   QuickQuote Quote  
palealeisgreat
no
4,998 Posts
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October 5 2008 5:27 AM   QuickQuote Quote  
I Am Legion
nothing
1,057 Posts
36/M/NA


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October 6 2008 2:08 PM   QuickQuote Quote  
down 599 right now.




Global Stocks Retreat, Led by Banks, as Credit Crisis Widens

By Adria Cimino and Chua Kong Ho

Oct. 6 (Bloomberg) -- Stocks tumbled around the world, the euro fell the most against the yen since its debut and oil dropped below $90 a barrel as the yearlong credit market seizure caused bank bailouts to spread. Government bonds rallied.

The Standard & Poor's 500 Index retreated 5.9 percent, extending the worst weekly slump since 2001, as concern slower global growth will curb demand for commodities sent Alcoa Inc. and U.S. Steel Corp. down more than 7 percent. The MSCI Emerging Markets Index headed for its biggest loss in at least two decades and exchanges in Russia and Brazil halted trading. Europe's Dow Jones Stoxx 600 Index had its steepest decline since 1987.

Today's plunge erased about $2.5 trillion from global equities after the German government was forced to bail out Hypo Real Estate Holding AG, overshadowing the $700 billion U.S. Treasury plan to revive credit markets. The euro weakened 6 percent against the yen, the most since 1999.

``It's like a fire,'' said Emmanuel Soupre, a fund manager at Neuflize OBC Asset Management in Paris, which oversees the equivalent of $33 billion. ``It's easier to extinguish five minutes after the start. Now we're about an hour into it. We have to act quickly to assure the continuity of the financial system to avoid an irreversible contamination of the entire economy.''

Two-year Treasury yields plunged 0.19 percentage point to 1.39 percent as investors sought the relative safety of government bonds. The MSCI World Index slid 6.9 percent as every industry fell at least 5 percent. Rio Tinto Plc, the world's second-biggest aluminum producer, fell 15 percent and UBS AG, the largest Swiss bank, lost 13 percent.

Seeking Safety

The Dow Jones Industrial Average dropped 545 points, falling below 10,000 for the first time since October 2004. Europe's Stoxx 600 sank 7.6 percent, the biggest decline since the October 1987 stock market crash.

National benchmark indexes fell in all 18 western European markets. London's FTSE 100 dropped 7.9 percent, the most in 20 years. Russia's Micex plunged 19 percent, led by OAO Gazprom's 21 percent decrease. The MSCI Asia Pacific Index lost 4 percent, as Mitsubishi UFJ Financial Group Inc. and Macquarie Group Ltd. retreated more than 9 percent.

An 11 percent tumble in Brazil's Bovespa Index and 10 percent drop in Indonesia's Jakarta Composite Index pushed the MSCI Emerging Market Index down 10 percent, the steepest in two decades.

``We're seeing panic all over the markets right now,'' said Javier Barrio, head of equity sales for Spanish clients at Banco BPI SA in Madrid. ``Governments are taking steps to try to reduce investors' fears but confidence is weak.''

National Markets

The plunge in stock markets accelerated along with bailouts of financial institutions and subprime-related credit losses that have approached $600 billion. The MSCI World is valued at 13.2 times the earnings of its companies, the lowest since at least 1995, according to data compiled by Bloomberg. Europe's Stoxx 600 trades at 10.4 times earnings, near the lowest level since at least 2002, while the S&P 500 is valued at 20.9 times earnings.

UBS, the European bank worst hit by credit crisis, lost 3.08 to 20.90 francs. The bank's earnings will be ``challenged for some time,'' and UBS may write down $3.1 billion in the third quarter, Oppenheimer & Co. analyst Meredith Whitney wrote in a note to clients. The Swiss bank has posted $44 billion in losses, according to data compiled by Bloomberg.




also:

Overnight Commercial Paper Rates Rise as Bank Bailouts Spread

By Bryan Keogh and John Detrixhe

Oct. 6 (Bloomberg) -- Corporate short-term borrowing rates soared as bank bailouts spread through Europe and the Federal
billy ray cyrus, MD
slugger
1,784 Posts
31/M/NA


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October 10 2008 1:26 PM   QuickQuote Quote  
Originally posted by:Consider Me Dead


might be time to get out.


pretty good call for over a year ago.
brian.
new cocks
144,185 Posts
33/M/IL


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October 10 2008 3:20 PM   QuickQuote Quote  
just jumped almost 500 points in 20 minutes
cows spending money
abu ghraib valenti
839 Posts
33/M/VA


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October 10 2008 3:53 PM   QuickQuote Quote  
people are definitely gonna use this whole crisis to do stock manipulation if they can, kind of the opposite of the ol' 'pump and dump'.
calliope farm
giant
293 Posts
28/F/NA


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October 16 2008 12:04 AM   QuickQuote Quote  
today was the worst yet, down 733. i have no idea what all this means, but it's getting kind of scary.
palealeisgreat
no
4,998 Posts
35/M/AZ


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October 16 2008 8:40 AM   QuickQuote Quote  
step_down
NO TRUST
1,995 Posts
32/M/NY


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October 16 2008 9:05 AM   QuickQuote Quote  
Originally posted by:brian.

for every 10 years, usually two of them are bear-ish markets lasting around 18 months. we're on something like the 13th month maybe? i dont carry any short term positions at the moment and generally couldnt care about any of this from a personal prespective...its obviously interesting news but thats it for me. ive talked to some people that are all up in arms about this and have no vested interest in any of it and have never spoke of it before. shit tanks and everyones an expert, which is always funny.



Me either, I just want to go lootin' & burnin'.
Any reason will do!
palealeisgreat
no
4,998 Posts
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October 21 2008 1:01 AM   QuickQuote Quote  
I Am Legion
nothing
1,057 Posts
36/M/NA


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October 23 2008 9:33 AM   QuickQuote Quote  
500 more.
Kadesh
Kadesh
37,478 Posts
34/M/PA


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October 23 2008 5:55 PM   QuickQuote Quote  
sucks
calliope farm
giant
293 Posts
28/F/NA


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October 24 2008 12:09 PM   QuickQuote Quote  
Originally posted by:palealeisgreat


cows spending money
abu ghraib valenti
839 Posts
33/M/VA


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November 11 2008 10:17 AM   QuickQuote Quote  
Originally posted by:G uNiT UgLy

Originally posted by:BillyLostin

Originally posted by: Consider Me Dead

down 200 for the day. probably a good time to sell before it's fully 'corrected' itself, which a buddy of mine said will be around the 11,000 mark.



11,000? Are you serious? Don't listen to your buddy. Most analysts say this is a correciton, which means maybe a thousand points followed by a bull market. Even a bear market would have to be pretty fierce to drop to 11,000 from 14,000.

And if you're investing, rather than trading, you should start buying as it drops. Open up a position now, and if it keeps dropping keep buying.




lols

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