Sun May 6, 2012, 11:38 PM

Asian markets, euro dive on Europe election results

Source: AFP via Google

HONG KONG — Asian markets tumbled and the euro hit a more than three-month low Monday after voters in France and Greece booted out ruling parties in a backlash against austerity measures aimed at battling the eurozone crisis.

Adding to the bearish atmosphere was weak jobs data out of the United States last week, which fuelled concerns about recovery in the world's biggest economy and sent Wall Street sliding.

Tokyo tumbled 2.62 percent by the break, Hong Kong slumped 2.45 percent, Sydney fell 1.51 percent, Seoul shed 1.70 percent, Wellington was 0.40 percent lower and Shanghai lost 0.41 percent.

France's Nicolas Sarkozy was on Sunday dumped out by Socialist Francois Hollande, who had campaigned on a platform of boosting growth instead of introducing huge spending cuts to overcome the country's huge deficit.

Read more: http://www.google.com/hostednews/afp/article/ALeqM5g_HLaBzqtdcnMoFgNo_LLlc7vYPg?docId=CNG.9acfd658a4e2dc4596cde4aee8ce77d8.1d1

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63 replies	Author	Time	Post
Asian markets, euro dive on Europe election results (Original post)	OmahaBlueDog	May 2012	OP
After 'the world' recognizes that its no time for austerity,	elleng	May 2012	#1
Its the markets that want austerity	DJ13	May 2012	#2
I don't think so; I think its the stupid, mindless repug attitude,	elleng	May 2012	#4
They are probably short and in line to make money in a crash.	dkf	May 2012	#30
Maybe, but at least according to today's Dow, won't be no crash!	elleng	May 2012	#50
Most European markets closed higher	muriel_volestrangler	May 2012	#51
Thanks, muriel.	elleng	May 2012	#53
Exactly.	girl gone mad	May 2012	#35
Let them crumble. The 99% don't need to follow the "markets" with bated breath.	AllyCat	May 2012	#3
A lot of us among the 99% are invested in the stock markets,	elleng	May 2012	#5
That was another brilliant idea of the Global Capitalists, to get their hands on the pension funds	sabrina 1	May 2012	#8
Pretty much all savings are invested.	dkf	May 2012	#22
Take a look at CD and savings account interest rates lately?	brentspeak	May 2012	#28
Its an investment because someone borrowed it and is using it.	dkf	May 2012	#29
Not true.	girl gone mad	May 2012	#36
Loans are assets on the bank's balance sheet...	jhasp	May 2012	#59
Nope. Loans are not funded by deposits.	girl gone mad	May 2012	#60
The relevant question is in what?	quaker bill	May 2012	#40
You are so right, sabrina 1. That is also what they did prior to the crash of 1929.	JDPriestly	May 2012	#24
It really is a beautiful construct.	raouldukelives	May 2012	#27
So take your money out, and do what you want with it.	chollybocker	May 2012	#15
I'm invested for my future security,	elleng	May 2012	#16
This message was hidden by jury decision.	chollybocker	May 2012	#25
Yes, but our accounts are not showing gains because the 1% takes the profits.	JDPriestly	May 2012	#20
My accounts are showing gains,	elleng	May 2012	#49
Most of us do not have enough money to make advising us worthwhile to a financial adviser.	JDPriestly	May 2012	#54
Clearly have to be smart when selecting a financial adviser,	elleng	May 2012	#55
I don't trust any of the financial institutions or advisers.	JDPriestly	May 2012	#63
What impacts the markets impacts the 99%	OmahaBlueDog	May 2012	#11
We won't recover until we face the challenges of our time and stop living in the past.	JDPriestly	May 2012	#21
Sadly they will figure this out the hard way.	dkf	May 2012	#23
And if the crashing stock market leads to another Great Depression?	NickB79	May 2012	#45
US stock will rise.	timlot	May 2012	#6
I'm not sure stocks will rise, but the Dollar will soar	OmahaBlueDog	May 2012	#7
Gold and silver prices will go negative also	magic59	May 2012	#12
I was thinking "flight to safety"	OmahaBlueDog	May 2012	#13
US stocks will follow overseas markets	magic59	May 2012	#14
Over time, as is usually the case.	elleng	May 2012	#17
Could be the beginning of a long overdue revolution	magic59	May 2012	#9
It so annoys me that when the people do	Smilo	May 2012	#10
Markets react, up and down, to whatever happens;	elleng	May 2012	#19
umbrage? offense taken from some slight, often imagined, insult?	Tunkamerica	May 2012	#31
The PTB hate the popular will.	Odin2005	May 2012	#18
Sometimes the populace doesn't understand that there are consequences to getting ones way.	dkf	May 2012	#26
Two countries that told the banksters to pack sand	sendero	May 2012	#34
Iceland borrowed billions from the IMF	hack89	May 2012	#52
They did...	sendero	May 2012	#56
So implementing IMF austerity measures and raising taxes is winning?	hack89	May 2012	#62
Right.. "There Is No Alternative"	girl gone mad	May 2012	#37
It's not a better choice if you are poor, elderly, sick or disabled!	LeftishBrit	May 2012	#41
RW Neo-Liberal talking points.	Odin2005	May 2012	#58
CNBC should be fun to watch this morning.	boomerbust	May 2012	#32
I hope the US market just does a temporary slump	OKNancy	May 2012	#33
It's cool for the people who have bought puts with their IRA funds.	girl gone mad	May 2012	#38
OMG! The world is ending! The 1% may have to pay more taxes, and the banks will have to lend to	leveymg	May 2012	#39
Fortunately the Markets seem to be stablizing	OKNancy	May 2012	#42
ZOMG! Guess they won't get to steal everyone's pensions after all. NT	grahamhgreen	May 2012	#43
Maybe not in France. Not so optimistic about the U.S.A. pensions.	harun	May 2012	#61
At midday	SOS	May 2012	#44
Big Bu$iness realizes that they're fucked.	Fearless	May 2012	#46
The markets tend to fall temporarily at any significant political change	LeftishBrit	May 2012	#47
Dow, S&P, and Nasdaq all up	OKNancy	May 2012	#48
Back in the Great Depression the market recognized that there was a very strong socialist	jwirr	May 2012	#57

Response to OmahaBlueDog (Original post)

Sun May 6, 2012, 11:43 PM

elleng (40,520 posts)

1. After 'the world' recognizes that its no time for austerity,

markets will recover. Will take time, of course, to adjust to and recover from bush-era catastrophe. We can only hope that recognition will in fact occur.

Asian markets, euro dive on Europe election results

1. After 'the world' recognizes that its no time for austerity,

2. Its the markets that want austerity

4. I don't think so; I think its the stupid, mindless repug attitude,

30. They are probably short and in line to make money in a crash.

50. Maybe, but at least according to today's Dow, won't be no crash!

51. Most European markets closed higher

53. Thanks, muriel.

35. Exactly.

3. Let them crumble. The 99% don't need to follow the "markets" with bated breath.

5. A lot of us among the 99% are invested in the stock markets,

8. That was another brilliant idea of the Global Capitalists, to get their hands on the pension funds

22. Pretty much all savings are invested.

28. Take a look at CD and savings account interest rates lately?

29. Its an investment because someone borrowed it and is using it.

36. Not true.

59. Loans are assets on the bank's balance sheet...

60. Nope. Loans are not funded by deposits.

40. The relevant question is in what?

24. You are so right, sabrina 1. That is also what they did prior to the crash of 1929.

27. It really is a beautiful construct.

15. So take your money out, and do what you want with it.

16. I'm invested for my future security,

20. Yes, but our accounts are not showing gains because the 1% takes the profits.

49. My accounts are showing gains,

54. Most of us do not have enough money to make advising us worthwhile to a financial adviser.

55. Clearly have to be smart when selecting a financial adviser,

63. I don't trust any of the financial institutions or advisers.

11. What impacts the markets impacts the 99%

21. We won't recover until we face the challenges of our time and stop living in the past.

23. Sadly they will figure this out the hard way.

45. And if the crashing stock market leads to another Great Depression?

6. US stock will rise.

7. I'm not sure stocks will rise, but the Dollar will soar

12. Gold and silver prices will go negative also

13. I was thinking "flight to safety"

14. US stocks will follow overseas markets

17. Over time, as is usually the case.

9. Could be the beginning of a long overdue revolution

10. It so annoys me that when the people do

19. Markets react, up and down, to whatever happens;

31. umbrage? offense taken from some slight, often imagined, insult?

18. The PTB hate the popular will.

26. Sometimes the populace doesn't understand that there are consequences to getting ones way.

34. Two countries that told the banksters to pack sand

52. Iceland borrowed billions from the IMF

56. They did...

62. So implementing IMF austerity measures and raising taxes is winning?

37. Right.. "There Is No Alternative"

41. It's not a better choice if you are poor, elderly, sick or disabled!

58. RW Neo-Liberal talking points.

32. CNBC should be fun to watch this morning.

33. I hope the US market just does a temporary slump

38. It's cool for the people who have bought puts with their IRA funds.

39. OMG! The world is ending! The 1% may have to pay more taxes, and the banks will have to lend to

42. Fortunately the Markets seem to be stablizing

43. ZOMG! Guess they won't get to steal everyone's pensions after all. NT

61. Maybe not in France. Not so optimistic about the U.S.A. pensions.

44. At midday

46. Big Bu$iness realizes that they're fucked.

47. The markets tend to fall temporarily at any significant political change

48. Dow, S&P, and Nasdaq all up

57. Back in the Great Depression the market recognized that there was a very strong socialist