Author Topic: Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash  (Read 719 times)

0 Members and 1 Guest are viewing this topic.

Offline Matthew

  • Mod
  • *****
  • Posts: 26208
  • Reputation: +22566/-308
  • Gender: Male
Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash
« on: February 27, 2007, 08:58:49 PM »
  • Thanks!0
  • No Thanks!0
  •  TOKYO, Feb 28 (Reuters) - Tokyo's Nikkei average tumbled more than 3 percent on Wednesday morning, on track for its biggest loss in eight months, as investors rushed to unload everything from Sony Corp. (6758.T: Quote, NEWS , Research) to Softbank Corp. (9984.T: Quote, NEWS , Research) as part of a sell-off in markets around the world.

    The fall was greater on the TOPIX index, the broadest measure of the Tokyo stock market. The capital-weighted TOPIX plunged nearly 4 percent, hit by declines in Nippon Steel Corp. (5401.T: Quote, NEWS , Research) and other recent gainers.

    The losses prompted the Tokyo stock exchange to temporarily suspend trade of TOPIX futures and limit arbitrage trade on the TOPIX.

    The Nikkei <.N225> finished the morning down 3.56 percent at 17,475.07, after earlier falling as low as 17,382.79.

    The TOPIX <.TOPX> slid 3.9 percent to 1,740.97, after earlier falling as low as 1,719.15.
    Feeling generous? Want to say "thank you"? Feel free to send gift(s) from my Amazon wishlist!
    https://www.amazon.com/hz/wishlist/ls/25M2B8RERL1UO

    Start Amazon.com session by clicking this link, and my family and I get a commission on your purchase!

    Offline CampeadorShin

    • Full Member
    • ***
    • Posts: 824
    • Reputation: +12/-0
    Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash
    « Reply #1 on: February 27, 2007, 09:25:26 PM »
  • Thanks!0
  • No Thanks!0
  • How much does it have to fall for me to start seeing riots on the streets downtown?
    Catholic warriors:
    http://www.angelusonline.org/modules.php?op=modload&name=News&file=article&sid=490&mode=thread&order=0&thold=0
    My older avatar of Guy Fawkes that caused so much arguing, made by peters_student:
    http://img235.imageshack.us/img235/6007


    Offline Matthew

    • Mod
    • *****
    • Posts: 26208
    • Reputation: +22566/-308
    • Gender: Male
    Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash
    « Reply #2 on: February 27, 2007, 09:37:37 PM »
  • Thanks!0
  • No Thanks!0
  • Asia stocks fall following big drop in U.S.

    Selling is across the board as Japanese investors react to the major decline in U.S. markets.
    February 27 2007: 9:58 PM EST

    TOKYO (Reuters) -- Stocks tumbled across Asia Wednesday following the biggest point drop Tuesday by the Dow Jones industrial average in more than five years.
    Check futures and overseas markets

    Tokyo's Nikkei average tumbled more than 3 percent on Wednesday morning, on track for its biggest loss in eight months, as investors rushed to unload everything from Sony Corp. to Softbank Corp. as part of a sell-off in markets around the world.

    The fall was greater on the TOPIX index, the broadest measure of the Tokyo stock market. The capital-weighted TOPIX plunged nearly 4 percent, hit by declines in Nippon Steel Corp. and other recent gainers.
    The latest in world markets

    The losses prompted the Tokyo stock exchange to temporarily suspend trade of TOPIX futures and limit arbitrage trade on the TOPIX.

    The Nikkei finished the morning down 3.56 percent at 17,475.07, after earlier falling as low as 17,382.79.

    The TOPIX slid 3.9 percent to 1,740.97, after earlier falling as low as 1,719.15.

    Hong Kong stocks slid 3.6 percent in a broad sell-off, as ƈhıną Mobile and mainland financials tanked after global equities plunged amid steep losses on ƈhıną's stock market.

    The benchmark Hang Seng Index opened at 19,426.95.

    The ƈhıną Enterprises index of H shares, or Hong Kong-listed shares in mainland companies, had fallen 6 percent by 0201 GMT.
    Feeling generous? Want to say "thank you"? Feel free to send gift(s) from my Amazon wishlist!
    https://www.amazon.com/hz/wishlist/ls/25M2B8RERL1UO

    Start Amazon.com session by clicking this link, and my family and I get a commission on your purchase!

    Offline Matthew

    • Mod
    • *****
    • Posts: 26208
    • Reputation: +22566/-308
    • Gender: Male
    Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash
    « Reply #3 on: February 27, 2007, 09:42:05 PM »
  • Thanks!0
  • No Thanks!0
  • Campy --

    It's hard to say. Is this the beginning of "the big one"? God only knows.

    What is almost certain is that 2007 will be a "red letter" year for the world economy.

    We have the housing bubble turning into a crash, which alone will cause a severe recession if not depression.

    Then we have all these "derivatives" (which boggle the mind, I can barely comprehend how they work -- just think a VERY VERY tall house of cards balancing on a sleeping man. When he wakes up...)

    Then there's ƈhıną bringing in US dollars like they're going out of style (because everyone in the USA likes cheap stuff from Wal-Mart) and so far ƈhıną has 1 TRILLION dollars+ in reserves. They have announced their intention to "diversify" their holdings, to not depend on the dollar too much.

    I can tell we're heading for a collapse because infinite growth isn't possible. We have this spiral of debt (at all levels) and it can't continue infinitely in a finite world. Watch that video I posted (it's the first topic -- pinned -- in "General Discussion" forum)

    To answer your question though, probably when people start losing their savings, when the banks close for "emergency holidays", when people are hungry and can't eat, even though they have $10,000 or $100,000 in the bank, when unemployment gets real high, etc.

    Matthew
    Feeling generous? Want to say "thank you"? Feel free to send gift(s) from my Amazon wishlist!
    https://www.amazon.com/hz/wishlist/ls/25M2B8RERL1UO

    Start Amazon.com session by clicking this link, and my family and I get a commission on your purchase!

    Offline PinoyMonk

    • Jr. Member
    • **
    • Posts: 341
    • Reputation: +10/-0
    Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash
    « Reply #4 on: February 27, 2007, 09:51:02 PM »
  • Thanks!0
  • No Thanks!0
  • It has begun... =(
    "In this difficult time, to be victorious, we must be steadfast using all of our strength and capabilities like brave soldiers fully armed in the battlefield ... Whatever happens, behave in such a way that God will be glorified."

    -Saint Andrew Kim

    "


    Offline CampeadorShin

    • Full Member
    • ***
    • Posts: 824
    • Reputation: +12/-0
    Tokyo plunges 4 percent on Day 2 of worldwide Stock Market Crash
    « Reply #5 on: February 27, 2007, 09:56:48 PM »
  • Thanks!0
  • No Thanks!0
  • Yeah I've watched the movie already.  It was very good.

    What concerns me is what the Joseph Stiglitz (the ex senior vice president of the World Bank) said about the economy heading to a crash between 2010 and 2008.  
    Quote
    http://www.infowars.com/articles/economy/stiglitz_former_world_bank_chief_economist_predicts_global_crash.htm
    Former World Bank Chief Economist Predicts Global Crash
    Nobel Prize winner Stiglitz highlights agenda of predatory globalism now arriving in America under auspices of NAFTA Superhighway, North American Union

    Paul Joseph Watson & Alex Jones/Prison Planet.com | October 30 2006

    Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz has predicted a global economic crash within 24 months - unless the current downturn is successfully managed. Asked if the situation was being properly handled Stiglitz emphatically responded "no," and also drew ominous parallels to the development of the NAFTA Superhighway and the North American Union.

    Stiglitz caused controversy in October 2001 when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.

    Speaking on the nationally syndicated Alex Jones radio show, Stiglitz defined the process of globalization as a system that was "rigged against the poor countries, rigged for the advanced industrial countries - the result of that is there were an awful lot of losers."

    The Columbia University Professor described how rampant privatization has crippled Mexico, in particular citing the sell-off of major infrastructure such as roads.

    "They sold the roads to the private enterprise and the hope was that they would be more efficient but of course what happens is that they didn't maintain the roads, they couldn't generate enough revenue and they eventually had to default and give the roads back to the government."

    Stiglitz agreed that the process of hijacking and looting key infrastructure on the part of the IMF and World Bank, as an offshoot of predatory globalization, had now moved from the third world to Europe, the United States and Canada.

    These sentiments are especially disturbing when we consider the current fast-moving quasi-secret agenda to sell-off major American highways to foreign corporations who plan to turn them into toll roads for tracking and taxation purposes - collectively known as the NAFTA Superhighway. The program forms the framework for the advancement of the North American Union - a collective governmental, border and trading bloc that President Bush has signed the U.S. over to under the Security and Prosperity Partnership of March 2005.

    As we previously reported , US citizens will be forced to adopt a de-facto national identification card and have their freedom of mobility defined by behavioral fealty to the government under proposals set to derive from NAFTA superhighway toll road systems and the implementation of the American Union.

    "This is a movement that's gone on all over the world," said Stiglitz, "the movement of trying to turn over basic facilities - water, roads, to the private sector."

    Speaking about the agenda of the World Bank since the installation of Paul Wolfowitz, Stiglitz highlighted the shift which began back in August 2001 whereby the Bush administration moved to block transparency of secret bank accounts, which in part facilitated the 9/11 terror attacks.

    "Unfortunately in this current administration, the defense industries and the energy industries have really been running the show and it has been disastrous," said Stiglitz.

    Discussing the warning signs of plummeting real estate prices in the U.S., Stiglitz stated that a global economic depression could only be avoided if a correction was made but at the moment all the indicators are that the situation is not being well managed.

    "If it's well managed it will only be a slow-down, if it's not well-managed it could be a recession," said Stiglitz.

    Asked if the debt bubble was being well-managed Stiglitz plainly responded in the negative.

    "It's gonna be difficult....this has been perhaps the worst six years of mismanagement of the macro economy....I think we can avoid an implosion if we manage this carefully but it's going to be very risky," said Stiglitz, agreeing that if the same course continued to be followed a global depression would occur within 12-24 months.

    Stiglitz said his reason for leaving the World Bank was that he was told he would not be able to speak his mind on the issues he considered paramount to the press, summarized as helping make the world a better place, and that the two "amicably parted ways." He also said that the IMF were particularly upset that his predictions about their disastrous policies quickly came true - which is an ominous portender for his thoughts on the possibility of a global crash.

    Stiglitz also slammed the recently passed Military Commissions Act , stating that the bill, "really did compromise some of our basic rights," and that it was a "disaster" for American freedom.
    Catholic warriors:
    http://www.angelusonline.org/modules.php?op=modload&name=News&file=article&sid=490&mode=thread&order=0&thold=0
    My older avatar of Guy Fawkes that caused so much arguing, made by peters_student:
    http://img235.imageshack.us/img235/6007


     

    Sitemap 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16