Nikkei plunges on economy fears

[Up2Late]

Source: BBC News

Monday, 10 September 2007, 05:25 GMT 06:25 UK

Nikkei plunges on economy fears

Japan's main share index has fallen sharply, hit by fears about the state of both the Japanese and US economies.

Data on Monday showing a 1.2% slowdown in the Japanese economy in the three months to 30 June, came after Friday's shock fall in US employment.

The gloomy figures caused Japan's main Nikkei 225 index to fall 358 points to 15,765 by mid-afternoon in Tokyo.

Japan's biggest exporters led the declines, as the dollar fell to a fresh 14-month low against the yen.

Sony's shares were down 5.1%, Canon had lost 3.8%, and Toyota had slid 2.9%, but analysts said declines by firms in all sectors of the economy....

Read more: http://news.bbc.co.uk/2/hi/business/6986580.stm

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Just about all of the world stock markets are down at least 2% so far today, looks like I picked the wrong day too...

Here's another link to see what I mean: <http://newsvote.bbc.co.uk/2/shared/fds/hi/business/market_data/stockmarket/default.stm>

[inanna]

1. Recommended

I'm paying close attention to this.

[Double T]

2. It is going to be a VERY UGLY Monday starting in six (6) hours.

The denial is slowly turning into a very harsh reality. The phony boom economy is beginning to collapse and no amount of corporate or WH propaganda is going to change that. The bushco and rethug failings just keep piling up.

[0007]

21. No problemo, junior will jump start the printing presses and pump

up the market so he doesn't look bad upon leaving office.

Next it will be the run of the banks before they close and leave for the Cayman Islands.


Is Ken Lay also in the Cayman Islands.

[Double T]

24. Yes, but what do we do when the currency paper the money is printed on........

is worth more than the values printed on it?

[0007]

25. We'll go down like the other countries that have tried to prop

up their governments.

junior doesn't give a flying fuck about you, me, or anyone else.

We're so screwed.

[Divine Discontent]

3. well isn't this special....

I don't have any stock. I just look at this stuff to see if devaluation is about to kick in world wide. Wow, 2%... that's like a half trillion dollars in lost stock value I'm (totally) guessing? I wish all of DU'ers a safe investment future.

[MADem]

4. Uh, oh....spaghetti-Os???? Not good.... nt

[tech3149]

5. It's a shame there's no snow on the ground

This ride could be really fun except for a bad ending at the bottom of the hill or the climb back up. One good thing about being a TOD (Tired Old Drunk)is I can sit back and listen to some good music (Aimee Mann) while I watch my retirement investments shrink into the black hole of the not so free market. I'm really glad I've got no one depending on my financial health. I don't think I could find a safe strategy to get through what's coming.

[riverdeep]

6. So is the ride starting?

And will you be able to get off? I'm glad I sold every share I had last month, I could see this shit coming.

[pokercat999]

10. I'm holding on to my single share of stock. It was a gift

(now almost worthless) from a company I once worked for.

I'm putting all my investment $$ into poker futures. Things are looking better as I have won twice and finished 5th once in 3 of the last 6 tourneys I've entered.

[Systematic Chaos]

7. Cut to a camera shot of an investor standing with his back to the edge of a swimming pool

The pool is filled with muratic acid and plenty of double-edged razor blades.

The investor is holding a cup of iced jasmine tea.

As the man falls backwards towards the water, in slow-mo, a guitar is heard playing a quick riff followed by a voice singing:

"Take the Nikkei plunge! AAAAAAAaaaaahhhhh!"

Then **SPLASH** and fade just as the shrieks of agony begin.

Brings you back to the 70s, doesn't it? :evilgrin:




Edit for typo

[Up2Late]

8. LOL! You forgot about the final Crane Shot...

(EXT -- Night) High camera shot, camera slowly pulls away and revels said investor in a pool full of blood...

[ClintonTyree]

9. I imagine the usual suspects...

that are charged with buoying the NYSE in times of turmoil will be working feverishly this AM to calm investors fears. The MSNBC talking heads will be touting this as a time to BUY, BUY, BUY and the storied "plunge protection team" will swing into action at the opening bell.

Have no fear, all is well. It's an excellent time to broaden your portfolio. And look at the bargains out there! ;)

I imagine there have been many early morning telephone calls already today and that the order has been given to "correct" those silly foreign markets. I mean, with the Bush economic miracle in full swing, why worry? :sarcasm:

[NJCher]

11. yeah, bush and the republicans

Are SO good for business, aren't they?



Cher

[xchrom]

12. i don't really like mondays as it is -- and this monday is really not starting well.

might as well go back to bed.

[TalkingDog]

13. Bonds, bonds bonds bonds bonds bonds bonds...

I HAVE BONDS!!!!

Well, mostly bonds. Enough so that in the past 6 months, I've noticed a near doubling of my "gain" over previous months. (and yes, I know, it ain't real money til I am holding it in my paws)

Yay for being paranoid, cautious and tentative.



My Favorite Master Artist: Karen Parker GhostWoman Studios

[Auggie]

20. I diversified about three weeks ago for the same reason.

Still a little stock heavy -- about 60/40.

[leveymg]

14. Global cross-market contagion - the '97 Asia Crisis writ large.

Ten years ago, corruption and insolvency in Russia led to a crash of currencies and assets markets from Thailand to Hong Kong to the Philippines. Somehow, a firewall kept the collapse from New York. Of course, a bubble eventually formed on the NASDAQ as global investors rushed to safe harbour their money, but that burst in early 2000. The Blue Chips didn't fall nearly as far as the dot.coms, but limped along until March of this year, at which time, the Dow ballooned up 20 percent in a mere five months as speculators dumped real estate and plunged into the "safety" of the Blue Chips.

The wave has returned. This time, there's no higher ground to move into. They're all going down.

[Andy Canuck]

15. The plunge

The test will be today in NY. What happened in Asia was a response to the Dow's decline on Friday. The Asian markets almost always mirror the Dow's swings. If today is bad in NY then watch out for Asia tomorrow. There maybe buyers in NY looking to pick up profits. But don't get me wrong, the US economy is a steel building built on balsa wood supports. It is in a very scary place right now.

[DemReadingDU]

16. Welcome to DU!

should be another interesting day at the markets

[Auntie Bush]

18. Welcome, but you sure picked a lousy day to start posting!

Good Luck. :hi:

[leveymg]

19. Opened a bit higher this morning on Intel, but the sell-off will be after lunch.

Cramer's on top of his snark game. Most entertainment value for the buck - he also makes a lot of sense.

[madrchsod]

17. poor babies

they gamed the system and now they are crying because they got caught...

[Javaman]

22. So where do you think on friday, in our market, will be bottom? nt

[cliss]

23. The best predictions I've read ~

the market is going to start having some wild swings. Some r-e-a-l-l-y big drops. And then, some n-i-c-e climbs. Everyone will breathe a sigh of relief. Whew, looks like we dodged a bullet on that one. Next: an amazing drop. Followed by a not-so-big rebound.

It's going to go like that for quite a while. Think: roller coaster.

The problem, though, is it's going to cause the maximum amount of losses and everyone will eventually lose everything, regardless of the "recoveries".

Just my 2 cents worth. (before inflation):smoke:

[riverdeep]

26. I'm hearing a lot of conflicting theories on where this is headed

in the longer term (next year or so). Some are saying that the US economy might go into a partial recession (like partial pregnancy?), but that the world economy, due to overall robust growth will not get hit that bad. Most damage will be limited to US. Others are saying, essentially - move to Utah, find a bunker, load up on food packets and semi auto rifles, end times have begun.

I don't think anyone really knows what the hell is going to happen.