Hang on, hang on, tight
Jan. 21st, 2008 10:00 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
This is starting to make its way up to headlines, but I'll post it anyway...
Dow futures - not shares, but a good indicator - fell 480 points today. Global markets Monday were down least in Japan, where the Nikkei fell only 3.9%. Other majors have fallen anywhere between 5.5% and 7.4%. Taking the average in there (6.1%), that'd be 738 points on the Dow, 81 points on the S&P 500, 137 points on the NASDAQ composite.
Sadly, all that is yesterday, which is to say, Monday. Tuesday trading has opened in Japan. As I write, the last data I have show the Nikkei 225 down more than 5% more - and the Hang Seng (Hong Kong, a longer lag) is down another 8.4%. India's SENSEX market gapped down 11.5% at the open, and trading has been halted.
There's no telling what'll happen in US markets tomorrow. Rumours are flying about a surprise 75 basis point cut - but I don't really see that doing a lot of good now, particularly not if futures trading and Japanese and Chinese markets today are any indicator. Tomorrow may not be orderly, as they say. 10% in a month is orderly. 10% in a day... not so much.
If you're in the markets, directly or indirectly, if haven't done anything before now, then, well, um... I'm sorry. Maybe Europe will halt the trend and US markets will be saved by having been closed Monday. Why no, I don't believe that either - but one can hope.
Dow futures - not shares, but a good indicator - fell 480 points today. Global markets Monday were down least in Japan, where the Nikkei fell only 3.9%. Other majors have fallen anywhere between 5.5% and 7.4%. Taking the average in there (6.1%), that'd be 738 points on the Dow, 81 points on the S&P 500, 137 points on the NASDAQ composite.
Sadly, all that is yesterday, which is to say, Monday. Tuesday trading has opened in Japan. As I write, the last data I have show the Nikkei 225 down more than 5% more - and the Hang Seng (Hong Kong, a longer lag) is down another 8.4%. India's SENSEX market gapped down 11.5% at the open, and trading has been halted.
There's no telling what'll happen in US markets tomorrow. Rumours are flying about a surprise 75 basis point cut - but I don't really see that doing a lot of good now, particularly not if futures trading and Japanese and Chinese markets today are any indicator. Tomorrow may not be orderly, as they say. 10% in a month is orderly. 10% in a day... not so much.
If you're in the markets, directly or indirectly, if haven't done anything before now, then, well, um... I'm sorry. Maybe Europe will halt the trend and US markets will be saved by having been closed Monday. Why no, I don't believe that either - but one can hope.
no subject
Date: 2008-01-22 06:14 am (UTC)no subject
Date: 2008-01-22 06:30 am (UTC)Tabloid footprints everywhere
(Dow futures now down 511 points... and in the time it took me to relocate a link, dropped down to -539. Tomorrow's gonna be... an adventure.)
no subject
Date: 2008-01-22 07:16 am (UTC)no subject
Date: 2008-01-24 08:16 am (UTC)no subject
Date: 2008-01-22 07:43 am (UTC)no subject
Date: 2008-01-22 07:57 am (UTC)no subject
Date: 2008-01-22 12:52 pm (UTC)And like you mentioned, altho' short term might have been bad, long term there is still good, and I'll be keeping on with my Mandarin lessons. Gonna need them one way or the other.
Also in the dei gratia department, we'd all been expecting this for a few years (but just didn't know when so we've had some practice at living with hatches battened. Not too worried about consequences now, really. That's not the same as being optimistic, though.
Tuesday opening in London... what, the, hell.
Date: 2008-01-22 12:14 pm (UTC)That's almost a 4% fall in the opening few minutes, and then in an hour it's not only regained those but it's up. The hell?
I dread to think what volume's like. Probably immense.
Similar things seem to be happening in France and Germany also. Wonder if any rumours about a big cut came through just after the opening bell, or whether this is actually just people going 'this ain't gonna last, time to buy'? Well, I think it is gonna last...
no subject
Date: 2008-01-22 01:35 pm (UTC)