Japan Stock Market Falling off A Cliff

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[Arkinsaw]

Down 722 - 7% and falling so far.

Asian stock markets plunged Wednesday as recent steps by the world's major economies to fortify credit markets failed to stem escalating fears that the spreading financial crisis could spawn a global recession.

[AmericanInTokyo]

i could not believe it myself (that earthquake just now). amazing timing. hmmmmmm.....if the center was not Tokyo area, then some more effected areas in Japan might be hurting this afternoon.....

[Kozak]

All those brokers hitting the ground in unison?

[TigerLikesRooster]

It’s now 9.4% down.

[bruinbirdman]

"YEN JUST ROSE BRIEFLY TO 99 Yen to the dollar. wow "

Good thing they make all those cars in America.

yitbos

[ThePythonicCow]

Wow, they [Jakarta, Indonesia] went flatline.

You might recall that we call it a bear market when it is down 20% from the top.

Well, Jakarta is down over 21% for the week (and we're only into Wednesday, their time.) They closed last week at 1846, and are down to 1451 (apparently flatlined) now, which is a 21.4% drop.

Isn't the deal to buy when fear and loathing are panic'ing the market ... Buy, buy, buy !!

[1COUNTER-MORTER-68]

I hate to say this.

But the people who leave the market and go on bank runs are cowards. They only make things worse.
~~~
I hear ya’,,,but,,,

It’s their money,,,

One was an older lady that won’t be able to retire...

[SAJ]

Too early. If you'll recall 1997-8, the time to buy the Asian Tiger nations' share mkts was almost exactly 2 weeks AFTER the story of their meltdown hit the Drive-By Media.

Wait for it. No hurry.

[444Flyer]

Report on CNBC World said 4.7 near Tokyo. You O.K.?

[ThePythonicCow]

So theoretically it can't go to zero! :)

It can go below zero too easily. The big banks lose all your investments, and then send in the Feds to collect more taxes to bail them out.

[AmericanInTokyo]

last time i checked

[AmericanInTokyo]

that is the third time on FR that I have been on live, when an earthquake has hit here in Japan, and i have gotten the 速報　report out. that one i posted about 50 seconds after it hit. yeah, everyone here is ok. we are watching the market shake more than the ground shake. thanks for your concern, from japan...a/i/t

[ThePythonicCow]

Wait for it.

For sure. It might turn out, in hindsight, that today was the bottom; but I'm sure not betting one cent on that prospect.

[444Flyer]

:). Very weird. I was looking at this thread and have the T.V. on in the background listening to what is going on in the world’s markets and they suddenly announced the quake. I live in So Cal and know they can be a bit nerve wracking. Good to hear all is well.

[silentknight]

I have been waiting and waiting, for two years, for this market. Was betting on the bottom being 9-10000. Wondering now if it might be more like 8000-9000. Still, timing the market is not wise. Getting in some now and more over the coming weeks.

It is very possible that the Dow could test these 7-8000 lows. Can’t imagine much more than that. Then again who thought we would be where we are today. Big mess.

[1COUNTER-MORTER-68]

Would be very nice for Wall Street to take a nice long weekend starting this moring about 9:30 EST.
~~~
Gunna be a bloody day Fo’Sho,,,

IIRC they shut down at a 10% loss to keep the

“Bottom from fallin’ out”...

[AmericanInTokyo]

Sensex (INDIA) falls below 11,000 on global fears

8 Oct 2008, 1040 hrs IST,ECONOMICTIMES.COM

MUMBAI: Markets opened sharply lower Wednesday in line with other global markets following distressing comments from the US Federal Reserve Chairman Ben Bernanke. He cautioned that downside risks to economic growth have worsened and signaled that policy makers are ready to lower interest rates as the credit freeze poses an escalating danger to the economy. He added that the world financial system is under 'extraordinary stress' and history shows that severe instability can take a heavy toll on the broader economy if left unchecked.

[jddqr]

“I’m sure not betting one cent on that prospect.”

How about one yen? ;)

[ThePythonicCow]

Reuters, at Nikkei falls 7.3 pct on economy fears, Toyota report, reports that the Indonesia Stock Exchange halted trading on Wednesday.

[444Flyer]

Oh, and prayers up. The craziness in the market is enough to handle without a good shaking to get the nerves more rattled.

[BurbankKarl]

earthquake to boot