You Freepers don't need to worry cause we've got brilliant leadership in Washington that will never let that happen here!
Posted on 01/03/2016 11:02:35 PM PST by Zakeet
Following the initial halt in CSI-300 Futures at the 5% limit down level, the afternoon session opened to more carnage and amid the worst 'first day of the year' in at least 15 years, Chinese stocks collapsed further to a 7% crash. At 1334 local time, stock trading was halted for the rest of the day across all exchanges (at least two hours early).
[Snip]
Dow futures are now down over 150 points from NYE close, Gold and Treasuries are bid, and offshore Yuan has plunged most since the August devaluation.
(Excerpt) Read more at zerohedge.com ...
You Freepers don't need to worry cause we've got brilliant leadership in Washington that will never let that happen here!
Coming to New York in a few hours....
Huge bubble right now in the market. Pumped up by zero % printed money.
This is SERIES and YUUUUUUUUUGE.
So what’s causing this exactly...central banks playing around maybe?
this sounds bad, very bad...
:-(
Central banks investing in stock markets creating bubbles.
Our stock market is 30-40% overvalued as a result. They’re trying to wait for Obama to get out of office for the next ‘correction’ to hit. Not going to work.
The article states that....
Under the mechanism which only became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent ‘close the market for the rest of the day’.
So it appears this will be status quo under the mechanism they have effective now.
“So what’s causing this exactly...central banks playing around maybe?”
Jingoism, at least in part many of the Chinese are convinced their market will never crash because this is, to them, the Chinese century. They will buy stocks that are on the way up because they don’t think they’ll ever go down.
There has never been a major crash in the Chinese market so the don’t believe there will be one.
Exactgly.
Exactly.
don’t know what the @#$@#$ to do about 401k. think it’s time to move it to the sidelines. even commodities are slumping.
what happens when you get to zero?
seven percent is a @#$@#$ LOT in one day!!!!
and if you wrote short options, you’re history.
open the widow and jump.
Central banks have been intervening in markets for years trying to prevent what is happening right now. Our nitwit market manipulators are informally known as the Plunge Protection Team. Other countries have their own versions.
TigerClaws is exactly correct. There is a huge bubble right now in the market ... pumped up by trillions of dollars in zero % printed money.
For the last several months, commodities have been crashing, followed by junk bonds, and now this.
Interesting read..and thank you. We too often forget that there are cultural differences in how a people view what’s going on in another country.... Unfortunately oftentimes what people “think” turns into a false sense of security or belief of which they operate from the actual realities.
so liquidate all stocks when the NYSE opens?
and all mutual funds as well, transactions to close at the end of the day?
does not sound very appealing, either way— a hobbesean choice???
I would think they would put their sell orders in, so when the market opens the next day they can write off their losses and start anew.
Obama’s exit plan is scorched earth.
"Turn those machines back on!"
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