Nikkei tanking; Global stock markets in the crapper

[marmar]

http://finance.yahoo.com/


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Nikkei 225 13,085.55 -274.49 -2.05%

Hang Seng 21,913.06 0.00 0.00%

Straits Times 2,915.82 -18.30 -0.62%

[aspergris]

1. Nikkei

Now THAT is a serious bear market. Been going on a long time.

I wonder what Nick Leeson thinks? :)

[Art_from_Ark]

5. Serious bear market is right

The Nikkei's gone from above 18,000 to a little above 13,000 in just the past year

[Trajan]

2. But WAIT ! .... FOX NEWS AND CNN told me ....

Everything was OK now ....

DAMN me .... There I go again .... fucking things up for everyone ....

[FarCenter]

3. Yen Gains on Speculation U.S. Mortgage Industry Losses to Widen

Things are busy on the foreign exchange front --

---

July 8 (Bloomberg) -- The yen rose against the euro on speculation widening U.S. mortgage industry losses will prompt investors to pare holdings of higher-yielding assets funded with the Japanese currency.

The yen also advanced against the Australian and Canadian dollars after an index of commodity prices fell by the most in four months, reducing the appeal of currencies from countries that export raw materials. Lehman Brothers Holdings Inc. said yesterday Fannie Mae and Freddie Mac, the two largest U.S. mortgage financers, may have to raise $75 billion in capital. The South Korean won rose to a two-week high on speculation the government bought the currency.

``Risk reduction is causing yen-buying,'' said Masaki Fukui, a senior economist and currency analyst in Tokyo at Mizuho Corporate Bank Ltd., a unit of Japan's second-largest publicly traded financial group. ``News on the U.S. financial sector is raising an uncertain outlook for the markets.''

The yen gained to 168.20 against the euro at 10:35 a.m. in Tokyo from 168.55 late yesterday in New York. It stood at 107.07 per dollar from 107.18. The euro traded at $1.5715. The yen may rise to 103 per dollar by the end of September, Fukui said.

...

[mdmc]

4. Kicked

to see where we are 12 hrs from now

[mdmc]

6. meh

[Dr.Phool]

7. Info is only 3 days old.