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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.

1. VMware IPO Debut Dazzles 2. Thornburg Postpones Dividend 3. Top 10 Potential Takeover Targets 4. The Top Buffett Value Stocks 5. The House That Won't Sell: Walk Away?

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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


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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
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To: mutley

They’ll have to re-test it after a few upticks...


22 posted on 08/16/2007 9:16:03 AM PDT by snarks_when_bored
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To: mutley
There's one re-test...

Dang, even the Nymex (NMX) is getting dumped...

23 posted on 08/16/2007 9:45:55 AM PDT by snarks_when_bored
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To: snarks_when_bored

Going for 12,500. Sheesh!


24 posted on 08/16/2007 9:48:11 AM PDT by mutley
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To: mutley

If they take NMX under par, I’m gonna have to jump in...


25 posted on 08/16/2007 9:51:05 AM PDT by snarks_when_bored
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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)
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To: snarks_when_bored
If they take NMX under par, I’m 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
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To: RightWhale

In the words of Steely Dan, I’ve got “My Gold Teeth”...


29 posted on 08/16/2007 9:54:47 AM PDT by snarks_when_bored
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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
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To: mutley; RightWhale

TNH may be close to bottoming...not quite sure yet, though...


31 posted on 08/16/2007 9:56:27 AM PDT by snarks_when_bored
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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
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To: mutley

Yeah, but I’d have to be an altruist, right? (laugh)


33 posted on 08/16/2007 9:59:40 AM PDT by snarks_when_bored
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To: snarks_when_bored
Yeah, but I’d 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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