[quote]NEW YORK (CNNMoney) -- Tokyo's Nikkei fell 4.4% in morning trading Tuesday, hours after the U.S. stock market suffered its biggest one-day drop in years.
World markets have been in decline this week, as S&P's Friday downgrade of the United States' credit rating continues to ricochet. The Nikkei (N225) index ended Monday trading down 2.2%, and fell further at Tuesday's open. The index shed 403 points in its morning trading session, dropping to 8,694.31.
It was the first time since mid-March that the Nikkei sank below 9,000.
In Hong Kong, the Hang Seng (HSI) dropped 7.3% in early Tuesday trading, while in Australia, the All Ordinaries index (ASX) also opened lower, declining 5% in morning trading.
The moves follow a day in which the three major U.S. stock indexes sank between 5% and 7% each, pushing the Dow (INDU) below 11,000 for the first time since last November.
"Investors are having one reaction to the downgrade: sell first and ask questions later," said Paul Zemsky, head of asset allocation with ING Investment Management.
The ripple effects of S&P's downgrade are only starting to be felt. The credit agency downgraded mortgage giants Fannie Mae and Freddie Mac on Monday as well as dozens of U.S. cities, insurance companies and other entities with financial ties to the U.S.' credit rating. More downgrades are expected through the week. To top of page[/quote]
[url]http://money.cnn.com/2011/08/08/markets/world_markets/index.htm?hpt=hp_t2[/url]
Dried food and bottled water sales suddenly go up 500 percent.
more bad news for europe
the asian stocks falling is going to be like another kick in the groin to europe during their fiasco
I hate the fucking stocks exchange.
Fuck stocks.
Thanks alot
Why doesn't everyone come together and make a new law banning debt all over the world?
[QUOTE=plokoon9619;31620841]Why doesn't everyone come together and make a new law banning debt all over the world?[/QUOTE]
whats wrong with debt? debt is good for economies, its when debt gets out of hand that it can be problematic
[QUOTE=Atlascore;31620083]"Dad, where were you when the 2nd great depression happened"
"Playing vidya games"[/QUOTE]
Can you blame us?
Every time I look at stocks, I'm thinking of tens of thousands of dollars lost.
I wonder how long theyre going to freefall for. Probably a good time to invest.
[editline]9th August 2011[/editline]
[QUOTE=Atlascore;31620914]One of the major causes of this whole mess was debt, for some reason modern countries are incapable of managing debt.
[/QUOTE]
Australia, fuck yeah, lowest debt to GDP ratio of all (?) developed countries.
Now someone tell that to the people on the Australian Securities eXchange.
[QUOTE=Atlascore;31620914]One of the major causes of this whole mess was debt, for some reason modern countries are incapable of managing debt.
I think it's stupid to ban it (Can you even ban it?) but it needs to be done, at least until we can stop being retards and letting ourselves get trillions of dollars in debt.[/QUOTE]
CERTAIN modern countries. It's not all of us who are in problems with our debts.
Why do most countries feel the need to borrow excessive amounts of money? A country should seldom, if ever, have to borrow money.
[QUOTE=Pace.;31622322]Why do most countries feel the need to borrow excessive amounts of money? A country should seldom, if ever, have to borrow money.[/QUOTE]
Gotta spend money to make money!
No money? Just borrow!
x10000
[QUOTE=Atlascore;31620083]"Dad, where were you when the 2nd great depression happened"
"Playing vidya games"[/QUOTE]
sorry the government is foreclosing on your balls
Guess people gotta stop living over the limits
Oh for fuck's sake, this is horrible
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