Japanese stocks fall 2.62 percent after Wall Street plunge

[spotbird]

IHT:

TOKYO: Japanese stocks dipped sharply during Wednesday morning trade, falling in the wake of an overnight plunge on Wall Street.

The benchmark Nikkei 225 index was down 450.54 points, or 2.62 percent, to 16,728.30 points on the Tokyo Stock Exchange shortly after 10 a.m. (0100 GMT) Wednesday. The index fell 0.66 percent to finish at 17,178.84 points Tuesday.

[marmar]

1. Hold on to your knickers, people!

:scared:

[youngdem]

2. Gonna get a LOT worse.

Gas prices going up. Disposable income going down. Foreclosures, housing inventory, interest rates and insurance are all going up, food is going up because of the ethanol fad, created jobs pay like shit, capital flight out of the US is huge, the dollar continues to slide, China is threatening to cut up our credit cards (a little), faith in US government to help steward a recovery is zilch, and on and on.

[Cobalt Violet]

3. When was the Wall Street plunge?

Tonight or last night. I missed it. I haven't been watching TV.

[spotbird]

4. Today. nt

[sendero]

5. I get a kick..

.. out of all the glib know-it-alls who claim the crash 2 weeks ago was "a buying opportunity". No, it was the shot across the bow. I still don't expect a major one-day meltdown, but I DO expect the stock market to drift downward for a very long time as "investors" come to grips with just how dysfunctional our economy has become.

[Nevernose]

8. Exsactly. You can recover quickly from a punch in the gut.

You can recover quickly from a punch in the gut. 9/11, economically, is a good example of that. But it's a hell of a lot harder to recover from cancer -- if one can recover at all.

The long term prognosis for the way we do things is pretty shitty.

It's like a lung cancer patient looking the doctor in the eye and saying, "What if I switch to menthols?"

[Mojorabbit]

6. This scares the crap out of me

we have a little bit but it is our retirement in the market. I just don't know what to do. There has been a good drop in our meager portfolio.

[BayCityProgressive]

7. how much of a drop was there today? Sorry, I am behind today..

[Mojorabbit]

9. I don't know what the overall market drop was

or what it will be tomorrow but I invest in energy stocks, food companies, as well as other sectors and all took a big hit today.