Stock Markets Plunge Worldwide

#1
W

WA_Vol

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#1
We maybe in a worldwide recession soon:


"People are certainly nervous about a potential recession in the U.S. spilling over to the rest of the world," said David Cohen, Director of Asian Economic Forecasting at Action Economics in Singapore. "Maybe there's still some wariness about politicians are able to come up with a compromise and act sufficiently quickly" on a stimulus package, Cohen said. "I think the impact would be marginal anyway."
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Stock Markets Plunge Worldwide: Financial News - Yahoo! Finance
 
#3
#3
The Dow & S&P dropped also, im getting killed. Thank god for Gold and silver and a few good shorts.
 
#6
#6
Time for the Fed to make a really bold move . . . like a full point.
 
#8
#8
GAVol said:
Time for the Fed to make a really bold move . . . like a full point.
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I really dont see a full point. I think the market has a half a point factored in already. The fed futures are looking at 3/4 of a point as of Friday. That would be my guess also.
 
#11
#11
Get ready for a hell of a ride today. Dow Fut. down 553 and S&P Fut down 66. It's going to be a long day. Oh, one good thing Oil is looking down also.
 
#12
#12
Fed just cut by 3/4 point. Wow, next week is the plan Fed meeting, a early cut hrmm. Things are bad.
 
#14
#14
BILLIONAIRE investor George Soros said the world was facing the worst financial crisis since World War Two and the US was threatened with recession, according to an interview with the Austrian daily Standard.

"The situation is much more serious than any other financial crisis since the end of World War Two," Mr Soros was quoted as saying.

He said over the past few years politics had been guided by some basic misunderstandings stemming from something which he called "market fundamentalism" - the belief financial markets tended to act as a balance.

"This is the wrong idea," he said. "We really do have a serious financial crisis now."

Asked whether he thought the US was headed for a recession, he said: "Yes, this is a threat in the United States".

He added he was surprised how little understanding there had been on how recession was also a threat to Europe.

European shares fell nearly 6 per cent overnight, their biggest one-day slide since the Septemer 11 attacks of 2001, as fears of a US recession and more debt write downs.

Financial crisis worst since WWII: Soros | NEWS.com.au Business
 
#16
#16
The Fed's move and the impending "stimulus package" will likely signal the market that things are bad - I wonder if they are as bad as these signals would have us believe.

In short, the Fed actions and stimulus package can have a self-fulfilling prophecy effect.
 
#17
#17
I just got back from Norway, and they kept on talking about our markets and the presidential races .... they seemed very tuned into the connection between the US makets and their own.
 
#18
#18
volinbham said:
The Fed's move and the impending "stimulus package" will likely signal the market that things are bad - I wonder if they are as bad as these signals would have us believe.

In short, the Fed actions and stimulus package can have a self-fulfilling prophecy effect.
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Yeah...I think that Bush's stimulus package is what rocked the world markets on Monday. The news didn't reach Europe until the close of business on Friday, really.
 
#19
#19
Down 400 pts in the first 10 minutes of trading......the FED dropped interest rates 3/4 of a point, the most in two decades. Hopefully that is enough to stave the bleeding.
 
#20
#20
it worries me that this fed responds to the market like this. i'd like to see some independent unexpected actions rather than just reacting.
 
#21
#21
droski said:
it worries me that this fed responds to the market like this. i'd like to see some independent unexpected actions rather than just reacting.
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I agree Droski. Do you think they will cut again next week? I think they will cut 1/4 maaaybe 1/2. What is your guess?
 
#24
#24
volinbham said:
It definitely seems to be stock market reactionary.

The whole idea of the stimulus package bothers me as well -
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the stimulus package is reactionary, but this rate cut has been in the works for some time. Bernanke's most recent public comments were very negative on the economy. I think he was thinking very hard about a full point.
 
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