Nikkei plunging; Financials dragging down markets worldwide

[marmar]

Nikkei 225 12,840.77 -169.39 -1.30%

Hang Seng 22,014.46 0.00 0.00%

Straits Times 2,874.72 -29.40 -1.01%


» View more indices


http://finance.yahoo.com/#market_summary_asia

[Arctic Dave]

1. The Nikkei seems to be taking the elevator down.

Looks like the Dow will be under 11,000 tomorrow.

[Liberal_in_LA]

2. I though the Fannie Mae bailout was supposed to prevent this. Oh well.

[NightWatcher]

3. All is well. Remain calm

Bank Stocks Are Battered as Unease Grows


Even as the Bush administration moved to rescue the nation’s two largest mortgage finance companies, confidence in the banking sector spiraled downward Monday.

Skip to next paragraph In Southern California, lines snaked around branches of IndyMac Bancorp, the large lender that was seized by federal regulators on Friday, as customers hurried to withdraw their money. As the anxiety spread through the financial markets, two other big banks, one in Ohio and another in Washington State, were compelled to assert that they were sound.

Even as federal regulators issued assurances that depositors’ savings were safe, Wall Street analysts circulated lists of lenders that might be vulnerable. Shares of regional banks plunged in one of the sharpest declines since the 1980s.

[Muttocracy]

5. wow, there's a photo, minus fashion, from 1929. nt

[starroute]

11. It reminds me of a riddle I never understood as a kid

A book of riddles I had when I was about 6 included this one, which baffled me for years:

Q. Why was pharaoh's daughter a good businesswoman?

A. She drew a little prophet from the rushes on the bank.

I wondered for years what the joke was -- and was probably grown up before I learned about the bank rushes of the 30's. I don't know to this day whether it was ever possible to draw a profit from them or not -- but perhaps we're about to find out.

[SpiralHawk]

4. The putrid fruit of Global Republiconomics

Think like a Republicon, fail like a Republicon.

[dysfunctional press]

6. hang seng now down 2.5%, taiwan down 3.2%

it could be an interesting day tomorrow on wall st.
let's see how europe does when it comes around.

[MikeNearMcChord]

7. Tom Waits can you sing this for me?

Brother can you spare a dime?
http://www.youtube.com/watch?v=CVE72Ae82Tw

[whistle]

8. You just crapped your drawers over a 1.30% and 1.01% decline

...in these foreign markets? Please explain why you think these are trends

[Ichingcarpenter]

10. So you think the second strongest economy in the world is just

a foreign market?....... Japan?

Well, we shall see if it has any bering tomorrow.

[Common Sense Party]

14. Strait up.

[Ichingcarpenter]

9. Nikkei down now -268.28 or -2.06%

The others are falling too.

[crimsonblue]

12. the NIkkei has been volatile for years

of that's any consolation. Plus, the daily or even single year performance of a stock index tends to be overstated.

[Festivito]

15. Concur. /nt

[Common Sense Party]

13. 1.3% is a "plunge"???

"rofl: