Asia stocks tumble, Tokyo hits 28-yr low amid global rout

reuters ^ | 6/3/12 | Chikako Mogi

[Typical_Whitey]

TOKYO, June 4 (Reuters) - Asian shares tumbled on Monday, pushing the broader Tokyo market to a 28-year low, as investors extended a rout of global stocks and worried about a nightmare scenario of euro-zone breakup, U.S. economic relapse and a sharp slowdown in China.

Tokyo's broader Topix index lost 2.1 percent to 693.35, a level not seen since late 1983, as Asian markets plumbed new lows for 2012. Japan's Nikkei average fell 2 percent after last week marking its ninth straight week of losses, the longest such losing streak run in 20 years.

[Typical_Whitey]

Standby for a rough day on Wall Street...

[MichaelCorleone]

Can QE3 be far behind?

[Sequoyah101]

Yes but, this is the same 2% or so lost by NYSE on Friday. The headline is a bit overblown.

All is not well but this seems to be sewing panic. Why?

[rovenstinez]

If it is a tumble in Tokyo..there will be a rumble on Wall Street. I’ll blame the Bildenberg Group is causing this.

[DoughtyOne]

Sounds like a safe bet huh. I hope we’re wrong, but...

[aposiopetic]

Can QE3 be far behind?

They're trying.

[dalereed]

“Can QE3 be far behind?”

Quit the meddeling and let it totally crash!!!

We’re in for another 15 years of recession otherwise.

[volunbeer]

I don’t think there is much appetite for QE3 in congress. The problems of government debt and our credit rating are more damaging than any potential benefits they would tout for QE3. In fact, I think there is a solid argument and public sentiment that the first two failed beyond helping out Wall Street.

[FormerACLUmember]

Damn.

Too bad a-hole Obama and his Regime have systematically destroyed the US economy.

Who else can lead the world out of the endless recession?

Instead, Obama and his Administration’s economic role model is Euro-Socialist Greece.

[Kartographer]

"The headline is a bit overblown."

That remains to be seen, we will know for sure when the market opens in New York in the morning.

[bruinbirdman]

"Can QE3 be far behind?"

Bernanke is conveniently scheduled to testify tomorrow?

yitbos

[Carry_Okie]

Asia stocks tumble, Tokyo hits 28-yr low amid global rout

Hmmm... something wrong with that headline... I KNOW!!!

Media pumps Asia stocks, Tokyo braces for manufactured crisis...

See tag line.

[GizzyGirl]

The selling on Friday ran right through the end of the day... didn't ease up and no late day rally. Your “remains to be seen” is spot on for me, I don't think it's done...

[grey_whiskers]

They're trying.

They're *very* trying...

Cheers!

[grey_whiskers]

Not sure I'm following your logic here: with the aftereffects of the tsunami and nuclear power industry's woes over there, their confidence is a little shaky anyway -- and since Tokyo is fairly dependent upon trade with the US in the best of times, any cratering of our industry or consumer demand does NOT bode well for them. (Add in their demographic implosion and the increasing tendency of their young to eschew sex and marriage, and they're in for a WHALE of a time. It's a good thing they have few natural resources or China would be tempted to engage in a little lebensraum-style payback for Nanking...)

NO cheers, unfortunately.

[Sea Parrot]

I don’t consider it a bad day unless they are jumping out of windows in tall buildings.

[Scott from the Left Coast]

Monday, Monday, can’t trust that day.

Monday bloody Monday. Full moon too.

[Sea Parrot]

You are so right. It seems none of those in power dare to draw the parallel between what is being today, with the very same thing they did in the 1930s. Which dragged out the misery until WW2 started, which was even more miserable.

[a fool in paradise]

Booshes’ fault!

[a fool in paradise]