Hang on, hang on, tight
Jan. 21st, 2008 10:00 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
solarbirdThis 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.
![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png){kind=small}
no subject
Date: 2008-01-22 07:16 am (UTC)no subject
Date: 2008-01-24 08:16 am (UTC)