'Panic situation' as Asian stocks tumble amid fears of new global recession

[inanna]

Source: The Guardian

Tuesday 9 February 2016 06.02 GMT

Japan’s Nikkei index plummeted more than 950 points on Tuesday, its biggest intraday loss since May 2013, and the yen briefly soared to a 14-month high against the US dollar, as continued fears over the health of the global economy saw a continuation of the previous day’s selloff in Europe and the US.

The Nikkei dived 5.1% to 16,132.25 in morning trading and extended losses into the afternoon, while Australia’s S&P/ASX 200 fell 2.6% to 4,946.70. Markets were also down in the Philippines, Indonesia, Thailand and New Zealand.

The MSCI’s index of Asia-Pacific shares outside Japan fell 1% and might have fallen further had several Asian markets not been closed.


Read more: http://www.theguardian.com/business/2016/feb/09/panic-situation-as-asian-stocks-tumble-amid-fears-of-new-global-recession

[jonno99]

1. Looks like its' time for us in the US to buckle up - it's going to be a rough ride...nt

[Warpy]

2. Looks like Wall Street will shit the bed again tomorrow.

I do love how people make financial decisions based on panic. Bites 'em hard every time.

ETA: Looks like the Nikkei is where all the panic is. Chinese and Straits markets are posting modest losses or gains.

[muriel_volestrangler]

7. Many Asian markets are closed for the Chinese New Year

February – 8, Monday Bursa Malaysia Stock Exchange, Indonesia Stock Exchange (IDX), Philippine Stock Exchange, Singapore Stock Exchange, HANOI Stock Exchange, Hochiminh Stock Exchange, Hong Kong Stock Exchange, Korea Exchange, Shenzhen Stock Exchange, Taiwan Stock Exchange
February – 9, Tuesday Bursa Malaysia Stock Exchange, Singapore Stock Exchange, HANOI Stock Exchange, Hochiminh Stock Exchange, Korea Exchange, Shenzhen Stock Exchange, Taiwan Stock Exchange, Hong Kong Stock Exchange

http://stock-market-holidays.org/2016-february/

and Shanghai all week: http://www.marketwatch.com/story/when-is-chinas-stock-market-closed-for-lunar-new-year-2016-02-05

Your Chinese and Straits figures may well have been from last Friday.

[Dawson Leery]

3. China, Greece, and Oil.

The teabaggers need to understand the new world we live in is one where the US does not dictate the terms.

[Spitfire of ATJ]

4. China has been propping up the market but the lesson STILL hasn't been learned....

You can't maintain constant growth across the board.

[Pharaoh]

5. We're All Gonna DIE! ,,,,,,,,,,,,,,,,,,,,,

[GliderGuider]

8. Well yes, but not all of us together, tomorrow...

However, we will all be steadily impoverished, at an increasing but variable rate. That process has already begun.

[olddad56]

6. Looks like the Fed want a republican president.