That is why something has to happen in Korea this weekend.
Things have been brewing for a while, remember when the New York stock exchange shut down for 4 hours one day after China melted down the night before?
They said it was a technical glitch, but wall street on parade said it was because several Chinese companies were being traded on the exchange but were under review by the SEC. I think a few of them weren’t even supposed to be traded at all, black listed, and yet their stock was selling.
They shut that story up quick.
(URGENT) N. Korea deploys towed artillery to DMZ for apparent attack on S. Korean loudspeakers
I know, I know…these declines have been endlessly rescued by Fed officials and mysterious buying out of nowhere up to now, but this feels bigger and badder than the prior declines.
There’s more volume, and it’s very broad-based, and it’s global.
I guess now we get to find out if the HFT robots really do add the right kind of liquidity or not.
Also, good job on buying up all your equities at the market top (again) corporate America!
Lastly, it looks like oil is making a run for the $30’s here. Three failed attempts to clear $42 have been rejected and it’s now plummeting and at $40.38
China blamed for free-fall…
Oil biggest losing streak in 30 years…
CLAIM: Dow 5,000? Yes, it could happen…
In finance, Black Monday refers to Monday, October 19, 1987, when stock marketsaround the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) fell exactly 508 points to 1,738.74 (22.61%). In Australia and New Zealand, the 1987 crash is also referred to as “Black Tuesday” because of the time zone difference.
The terms Black Monday and Black Tuesday are also respectively applied to October 28 and October 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929.
All we need is some “kinetic military activities” over the weekend and the similarities would be eerie. I’m tempted to get some gourmet popcorn and stay home from work on Monday while staying glued to my computer monitor. Either that or order some freeze dried food.
Listen from the beginning:
For those who do not remember Peter Schiff:
“The Dow Jones Industrial Average DJIA, -3.12% suffered its biggest weekly point drop since the worst week of the financial crisis. The Dow tumbled 531.14 points on Friday, and 1,017.85 points, or 5.8%, for the week, amid growing concerns of a slowing global economy. The Dow had tumbled 1,874.19, or 18%, the week ending Oct. 10, 2008, as the collapse of Lehman Bros. rattled global markets. On a percentage basis, this was the blue chip barometer’s worst week since the week ending Sept. 23, 2011, when growing concerns of a double-dip recession in Europe pushed the index down 6.4% on the week. ”
A Small Gift Arrives For Global Economy
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In-Depth–THE BUSINESS TIMES–9 hours ago
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I didn’t say that it was a nice gift: