Posted on 01/21/2008 9:51:30 PM PST by HAL9000
via translation -
The Bombay Stock Exchange will suspend its trade after a dip of 9.7%
BOMBAY (India) - The Bombay Stock Exchange in India has suspended trading Tuesday after a dip of 9.75% at the opening in the wake of other places in Asia, she said.
The index of thirty major Indian values, the Sensex, lost 1.716,71 points to 15.888,64 points when the transactions were automatically halted for at least one hour.
The Bombay Stock Exchange had already unscrewed Monday, down 7.41% at the close, its largest decline ever recorded for a meeting.
"Investors clearly reacting to the weakness of Asian markets," noted Pashupati Advani, director of the brokerage Advani Share Brokers.
The Sensex-30 has now lost 25% since its historic high points at 21206.77 reached at the meeting on January 10.
The foreign investment fund, which had flooded the Indian stock market in 2007 with $ 17.2 billion, have now sold $ 685 million since January 1, 2008.
The Awards Asia suffered further losses monumental Tuesday in the meeting, still haunted by the fear of a recession in the United States, major customer for Asian exports, and the consequences for the entire world economy.
The Asian markets had already experienced a black day Monday, contaminating the European places which have cashed their biggest declines since the attacks of September 11, 2001 in the United States.
Tomorrow’s gonna be a fugly day on Wall St, seems like.
IMO, this all stems from the reaction to the failed loans with balloon payments that are now coming due, that many are defaulting on.
If that’s off base, take me to task for it.
What this causes me to do though, is get quite angry at the supposed experts who thought this was going to fly in the first place. What a bunch of idiot sticks.
Amazing...the downfall of the world economy, the fault of the US again...we are so influential these days.
Down 11.7% immediately before circuit breaker popped.
i was talking with mortgage types in the fall. they were saying then, that the lenders were making the requirements extremely high.. holding back loans that were good risk... the net result being that homes would sit longer on the market, freakin the sellers, causing a drop in prices... etc
part of me thinks it’s a bit too conveniently timed.. and i wonder if the clinton political machine is driving to create the ‘sky is falling’ scenario in order to unseat the incumbent party.
dems have shown numerous times they don’t care how many get hurt in their quest for power.
When we sneeze they catch a cold... so what happens when we take a dump on the world?
This sounds like full scale panic selling. Looks like tomorrow is going to be bad in the US, this on top of a drop of over 2000+ pts in the Dow since mid-December already. Could the Dow drop 1000 in a single day?
Looks like “it’s bombs away in ol’ Bombay.”
——The Police
Dump? What you think those packaged products of mortgages were? Man, not an export nation, yeah right boyyyy? One tainted container ship of lead based Mattell GI Joes, for an envelope worth billions in ready to write down US Sub Prime. Fair Trade!
The Plunge Protection Team is certainly going to have its hands full tomorrow.
Its common knowledge that Clinton and his minions control the World Economy.
I think that while the Dems are pleased that economic conditions make their winning this fall that much more likely, that it is absolutely impossible for any such little people to have this large an influence on markets. That just isn’t how things work. Lots and lots of people made really bad financial decisions all along the chain of value, and now its going bad. But falling markets are NOT the end of the world. For people with cash, its what they’ve been waiting for.
It is going to be Bombs Away on Wall Street on Tuesday.
We may see a 500 or 1000 point fall on the Dow.
Two guys in the back must have been short
it’s coming back now..down only 6.5%
While this would obviously be true in most cases, I wouldn't bet on it given the leading candidates on the Dem side. I mean seriously, if the economy is faltering are voters really going to put their faith in Hillary over, say, Mitt Romney?
They do appear to be somewhat pleased...
Wow the foreign slicks are getting there ass on a plate. Some say the S&P 500 index would fall more than 5 per cent when it resumes trading. That would be some serious pain.
Lesson for the world. Mess with uncle and it will get ugly.
Never mind we are sending over a BILLION a day to oil people who hate us.
You’ve got mustard on yer head, right there. Did you know?
The damned losuy part of it all is that so many aquaintences of mine are living in 3,500 sf McMansions that they could ill-afford, while others live within thier means.
It won’t take India long to realize that they were buying up wothless securities hand over fist, never knowing that they would be paying for a huge house and Hummer for another bleach blonde bimbo and her husband, the Starbucks manager. The mortagae lenders have really pulled a fast one, this time.
When the grim reaper loan servicers come calling, the pity mongers (Dems)will cry out for mercy on my overextended compadres and help them out of thier bind by using my taxes...
I guess that makes me the dumbass.
I believe you credit voters with far more sense than has been demonstrated in the past...
That is sandalwood.
haha! who got the poisoned junk in the end after all? so any predictions about tomorrow? I think we’ll def close under 113— which is the 20% mark from Oct. Maybe even dip bellow 10K but rally around 112—. Upper 10’s by the end of the month. Watch out other issues Economy is deciding the primaries this year!
I’m beginning to wonder if the lenders have been holding on to those houses as capital they need to liquidate rapidly at whatever price.
I think that is true. I was ready to buy in Novemeber, but even with great credit and a good down payment BofA gave me a slightly higher rate than I expected. I demanded to know why, and they simply said it was the way things were headed.
I told them to keep thier loan. I would wait till they were begging for good risk borrowers, and it gives me more time to save.
that’s a Bengali Rally!
"Holy Snikes!
Dow Jones Industrial Average futures contract are off 520 points at 11,586;
Nasdaq futures were at 1773.25, down 76.25.
Standard & Poor's 500 futures recently were at 1265, down 60.3.
Let me hasten to remind you that this is "contained."
Imagine how much worse it would be like if it were not."
I always predict short term wrong, so let me try to help the cause. Dow down 500 or more!
voters will vote - esp. in a recession, if we are to have one - for the candidate who promises to write them the largest checks.
Much of this could have been avoided if the Democrat controlled congress would have given us a good package of tax reductions, permanent ones, including eliminating the AMT.
disagree. I think the only way to have avoided this would have been not to have bid these assets up to the sky in the first place.
Sten I honestly don’t know. I express what my perception is, but I’m no sage, far from it. I don’t quite understand why the business community would want to dump a party that had given them carte blanche, but who knows.
On Indian TV right now, various stocks down between 11 and 21%. I think Sensex is down 13% but a very fluid situation. Just about to trigger another circuit breaker.
lol
Don’t look now, but the Sensex is beginning to look REALLY ugly again.
Still watching? -13.5% I can’t understand everything they’re saying but some stocks down as much as 40%.
The WSJ blames the FED for keeping rates too low for too long, feeding the manic real estate market, but if we had received a substantial tax reduction, or even get one NOW, we could still pull out of the slow down and avoid a recession.
LOL! Where is that picture of him all clinched up like that?
Europe should prove interesting. There better be some higher up’s doing some fast talking on the phone, or it’s going to be brutal. Glad that I went to cash in November.
They’re talking about margin calls.
yitbos
Those margin calls are going to be really hard to fill at this rate.
Finance Minister was urging “calm, don’t panic, no unwarranted apprehensions, economy is strong, liquidity not an issue, I;m assured by bankers the system is healthy”...
B.S. just like any country
India, Brazil and China were fueled heavily by foreign investment dollars. When those investors leave these markets, the domestic support isn’t enough to keep them from massive losses. Look for a huge exodus from US based emerging market funds, going to make the losses in the next few months huge. Probably not too early to play some of these EMs short. Thinking about buying the FXP tomorrow, china ultra short. But I fear I might be one day late, as the opening trade on that is going to be up something fierce.
All my holdings are in retirement accounts so I just have deal with it. I’m nowhere close to retirement age, so it doesn’t really matter, but I do like seeing nice big numbers on my statements. Other than that, I got nothing in the market. But I’m in a service business that’s non-essential, so my livlihood depends on a healthy economy.
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