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World Stocks Tumble
http://www.thestreet.com/s/world-stocks-tumble/markets/worldmarkets/10374594.html?puc=_tscfoc ^
| 8-16-07
Posted on 08/16/2007 6:24:40 AM PDT by Hydroshock
Stocks dropped sharply in Asia and sold off in Europe as well as the U.S. credit crunch continues to worry investors.
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Japan's Nikkei dropped 2% and Hong Kong's Hang Seng gave up 3.3%, and those were some of the smaller drops. Stocks dropped 6.9% in Seoul, 5.9% in Jakarta, 4.6% in Taipei and 4.3% in Mumbai. Even China's highflying Shanghai Composite joined in the selling, sliding 2.1%.
Markets were in the red across Europe as well, with shares in London, Paris and Frankfurt all off 2.3% to 2.7%.
The declines come a day after the Dow Jones Industrial Average staged a late-day swoon to end down more than 1% in its fifth straight decline. Among the biggest U.S. declines Wednesday was Countrywide (CFC - Cramer's Take - Stockpickr - Rating), the big mortgage lender that shed 13% after Merrill Lynch cut its rating to sell from hold and warned that the company could soon find itself hit by the liquidity crisis that has swept across the U.S. lending industry
TOPICS:
KEYWORDS: alasandalack; allislost; applesonly5cents; breadline; chickenlittle; cropfailures; depression; despair; despondent; doom; dustbowl; grapesofwrath; helpme; highdivefromawindow; hooverville; housingbubble; nohope; nojobs; skyisfalling; soupkitchen; tomjoad; woeisme
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To: snarks_when_bored
Well, well, well...looks like the boys decided to get their 10% down today.
Yep...made it. Now where from here?
21
posted on
08/16/2007 9:11:41 AM PDT
by
mutley
To: mutley
They’ll have to re-test it after a few upticks...
To: mutley
There's one re-test...
Dang, even the Nymex (NMX) is getting dumped...
To: snarks_when_bored
Going for 12,500. Sheesh!
24
posted on
08/16/2007 9:48:11 AM PDT
by
mutley
To: mutley
If they take NMX under par, I’m gonna have to jump in...
Comment #26 Removed by Moderator
To: snarks_when_bored
Buy gold. It’s correcting real good.
27
posted on
08/16/2007 9:52:33 AM PDT
by
RightWhale
(It's Brecht's donkey, not mine)
To: snarks_when_bored
If they take NMX under par, Im gonna have to jump in...
Could very well be a good entry point. If I had more money to throw at it, I'd be buying.
28
posted on
08/16/2007 9:53:43 AM PDT
by
mutley
To: RightWhale
In the words of Steely Dan, I’ve got “My Gold Teeth”...
To: Lizarde
Stocks continue to tumble as investors liquidate everything they can in an effort to raise money and de-leverage portfolios.
It is the ultimate intellectual game, and it can be brutal to you.
30
posted on
08/16/2007 9:56:25 AM PDT
by
mutley
To: mutley; RightWhale
TNH may be close to bottoming...not quite sure yet, though...
To: snarks_when_bored
TNH may be close to bottoming...not quite sure yet, though...
Very little, if anything, is sure in this game. Maybe plunging your millions into the market will stop this panic.
32
posted on
08/16/2007 9:58:41 AM PDT
by
mutley
To: mutley
Yeah, but I’d have to be an altruist, right? (laugh)
To: snarks_when_bored
Yeah, but Id have to be an altruist, right? (laugh)
LOL...You'd be the first person, in all of history, put money into the market for altruistic reasons.
34
posted on
08/16/2007 10:05:07 AM PDT
by
mutley
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