World Economy Buckles: Waves Of Selling In Word Stock Markets

[Better Believe It]

Asia stocks at 5-yr low; world economy buckles
By Kevin Plumberg
Reuters India
Friday Nov 21, 2008 9:17am IST

HONG KONG (Reuters) - Waves of selling in world stock markets crashed into Asia on Friday, with gains from the region's 5-year bull run now erased as a global recession tightened its grip, and investors sought refuge in government bonds and cash.

U.S. stocks were at the lowest in more than a decade and oil prices fell to 3-1/2-year lows, trading below $50 a barrel, as commodity prices slumped on expectations of reduced demand as economies from the euro zone to Taiwan contract.

The fate of U.S. corporate titans like General Motors, Ford Motor Company and Citigroup was uncertain, adding to a general mood
of anxiety.

Citigroup, not long ago the world's most valuable financial firm, was reportedly considering selling itself.

http://in.reuters.com/article/businessNews/idINIndia-36616520081121?pageNumber=1&virtualBrandChannel=0

[dysfunctional press]

1. asian markets aren't as bad as one might have expected...

australia and seoul are both actually up slightly.

[Mind_your_head]

2. uh-oh n/t

[Hannah Bell]

3. Is there going to be a word shortage? The quiet might be nice for a change.

[Jim Sagle]

4. I iheard excel ain't doin' so hot either.

;)

[Mojorabbit]

5. I feel like I have been

holding my breath for months now waiting for the other shoe to drop.