US Debt

[tankee]

The fear of a double-dip recession with the slowdown in the US and the sovereign debt situation in Europe sent the stock markets tumbling.


Dow Jones Industrial Average suffered its worst one-day drop since December 2008 to close 4.3 percent lower at 11,383.68, erasing all this year's gains.

The broader S&P 500 dropped 4.8 percent to end the day at 1,200.07, while the tech-heavy Nasdaq Composite dived 5.1 percent to 2,556.39.

London's benchmark FTSE 100 index fell 3.43 percent, retreating to levels last seen in September 2010 while in Frankfurt the DAX fell 3.40 percent, and France's CAC 40 dropped 3.90 percent.

Asian stock markets tumbled in early trade on Friday following the fall in the US and European markets amid fears the world was heading towards another financial crisis.

Singapore dropped almost 3.6 percent.

Australia's benchmark S&P/ASX 200 was 174 points lower at 4,102, while in Tokyo the Nikkei index plunged 395.09 points, or 4.09 percent, to stand at 9,264.09.

In Seoul, the benchmark KOSPI index fell 81.30 points, or 4.0 percent, to 1,937.17 -- the lowest level since March.

:sad:

[BlurBee]

Might be.

So those who r cash rich do standby ur cash. :evil:

[Nebbermind]

BlurBee:

Might be.

So those who r cash rich do standby ur cash. :evil:

and check property listing in papers and internet!!

[tankee]

if it really happens, it might be worse than the last one since we are just recovering from it

[nettie]

OMG! SGX drop 108 points!

[nettie]

i think margin call... pple just throw away their holdings ... :moneyflies: :moneyflies: :siam: :imdrowning: :?:

[3Boys]

MadScientist:

Good morning! You just woke up to a MAJOR day in global markets. The S&P500 puked its guts out and Asian markets are going to BLEED! The Head & Shoulders pattern broke down 2 days ago, tested and failed the neckline and then hit its downside target within 2 days with a 60 point drop in the S&P500! Amazing volatility!

Not a pretty sight this morning.

[Edureach]

US needs the coperation and help from the no.2 economy. No.3 brother is now struggling can’t help much.


My personal view is that though the risk of double bottom in US has increased significantly, whether it will eventually materialise is still uncertain at thispoint as a lot still depends on their policy decisions and politicians from both sides of divide.

For retail players, best to sit out as the macro picture in the west is bleak though many leading US conpanies are currently reporting good numbers.

[WeiHan]

A super great depression is definitely in the card. Just that they maybe able to postpone it again through another round of easing. It could be call QE3 or another name.


That is also another reason why i wrote in the "MAS lost10 billions" thread that it is critical that our central bank sees the importance of holding part our reserve in gold-a non fiat currency contrary to all other currencies which are fiat.

[MadScientist]

Edureach:

US needs the coperation and help from the no.2 economy. No.3 brother is now struggling can't help much.


My personal view is that though the risk of double bottom in US has increased significantly, whether it will eventually materialise is still uncertain at thispoint as a lot still depends on their policy decisions and politicians from both sides of divide.

For retail players, best to sit out as the macro picture in the west is bleak though many leading US conpanies are currently reporting good numbers.

Yup... that's what it is...

But the US companies reporting good numbers are not giving good forward guidance...

And it is not likely to be the final end to this... more debt will be created, more inflation, more of the same medicine that we all know so clearly does not work in the long run.

It's in the making... and the picture is getting clearer...