Re: Watch Out
it has already started having devastating effect on other industries. New car sales in UK were down by over 21% in september this year when compared to last sept.
The domino effect will spread as one industry after another gets affected and slows down.
Hard times ahead.
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Dow already down 576 points this morning.
When the bailout plan wasnt passed the dropped the market 700 points and when they finally passed it it has already dropped more than 1200 points.
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Dow below 10,000 for the first time in 4 years.
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yups, may Allah bless chacha bush for the whole subprime BS and the best monetory policy ever and and and showing the best economics skills ever.
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*The FTSE 100 index of leading shares suffered its biggest one-day fall on record, down 7.85%. *
Re: Watch Out
I don't quite understand the whole DowJones/index etc....but can someone please explain this federal bailout plan of $700 billion. Just is this expected to help the economy. AIG needed $85 billion itself to survive, at least for now. I mean there are co's making/losingnear that figure itself?
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Dow jones is currenlty more than 500 points down at the moment. If the market falls by 1100 points by 2 pm NY time, the market will be shutdown for one hour for cooling down period. This is called triggers. There were times in 1990's when 400 poijnts was the trigger, now 1100. It is rougly 10% fall.
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It was down 800 points at one time today. It bounced back 400 plus points, now at down 330, barely resisting at 10000 points
I don't quite understand the whole DowJones/index etc....but can someone please explain this federal bailout plan of $700 billion. Just is this expected to help the economy. AIG needed $85 billion itself to survive, at least for now. I mean there are co's making/losingnear that figure itself?
The bailout package is an indirect help to the economy, saving the companies who help keep the money in rotation in the economy providing "credit" and "loan" services.
I don't quite understand the whole DowJones/index etc....but can someone please explain this federal bailout plan of $700 billion. Just is this expected to help the economy. AIG needed $85 billion itself to survive, at least for now. I mean there are co's making/losingnear that figure itself?
Bailout plan is a huge plan that covers alot of stuff but its main goal is to provide liquidity to the financial system.
in easy words government is lending money to banks so that the banks can lend it again to ppl like us and other small businesses.
and the $85 billion for AIG u r talking about is already been provided to them last month in the shape of a collateral investment with 11.50% intrest for 2 years.
i hope i made it clear :S lol or atleast tried my best
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Surprisingly no one has made any noises about the utter failure of the regulatory and risk assessment bodies. Where are all these bodies who are suppose to monitor and enforce financial discipline?
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Hum ghareebo ka kya hoga! People say Pakistan is about to become bankrupt. Yahan to daal roti kay lalay pur jaee gay.
No end seems in sight.
Tuesday Morning Market: FTSE drops back after strong opening
By [Nicholas Paler](http://www.citywire.co.uk/adviser/-/news/author.aspx?ClassificationScheme=AUTHOR&KeywordCode=AUTHORNPALER) | 08:58:36 | 07 October 2008
Shares in London jumped higher on opening, repairing some of yesterday's damage as miners put on a strong showing, before banks impacted markets once more.
Having seen the FTSE 100 jump up 2.8% or 128.31 points, at 4,717.5, by 08:16am, shares retreated sharply minutes later, with the index standing down 16.67 points at 4,572.52 by 09:08am.
Following a tumultuous Monday which saw almost £100 billion wiped off the value of UK stock markets as fear gripped investors, banks once again took a beating from the market.
Reports emerged that three banks, Royal Bank of Scotland, Barclays and HBOS, had asked the government for a £15 billion capital injection each, leading RBS to suffer once more, down 28% and topping fallers. Brokers KBW cut their price target for the shares to 230p, from 260p.
HBOS, initially the top riser, dropped by 5.5%, adding to yesterday’s fall of more than 18%, while Barclays slid 6%, as continued fears over the stability of the UK banking system battered shares.
Miners, including Vedanta Resources, Kazakhmys, Lonmin and Anglo American, provided a little cheer after rebounding between 6.5 and 6.3% after yesterday’s drop.
Kazakhmys’ shares were also buoyed by talk of a joint venture with a state firm which would give it access to additional resources such as coal.
Other financials also featured, with Schroders ahead by 4.7% and Standard Life up 4.2%.
Tuesday Morning Market: FTSE drops back after strong opening | New Model Adviser ® | Citywire
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The fall in Dow continues despite the bailout.
With news from Iceland where the country is on the brink of bankruptcy due to the crash in its banking system, there isn’t going to be a bounce in the markets soon.
http://ap.google.com/article/ALeqM5itQzswxi7QzOQgTSZpEYHznhE3wAD93LL6DG0
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Dow closes another 500 points down. The meltdown continues.
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I can't believe it, the markets were hovering around positive terroritory today until around lunch and now both Nasdaq and DJI are in deep red!
Nasdaq : 1754, -108.08, -5.80%
DJI: 9447, -508.39, -5.11%
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^^ it started falling after Ben bernanke speech.
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£50bn rescue packaged announced by the British govt. The market responded by opening down 200 points.
FTSE currently down 171 points.
The markets obviously dont think the package or the measure taken so far are enough or good enough.
The melt down continues.
http://www.citywire.co.uk/adviser/-/news/other/content.aspx?ID=316798&re=3901&ea=21976
