Australian shares in freefall

[depakid]

Source: Sydney Morning Herald

Australian shares plunged a massive 7 per cent this afternoon, its biggest decline in more than 18 years, as panic selling set in among investors over an expected slowdown in global growth.

The benchmark S&P/ASX 200 Index closed more than 7 per cent lower, down 393.6 points to 5186.8 points - its lowest since November 2006 - and its 12th straight day of declines.

The broader All Ordinaries index was slashed by 408.9 points, or 7.26 per cent, to 5,222 points.

It was the biggest one-day loss since October 16 1989, according to Commsec, and the market's fourth biggest percentage decline ever.



Read more: http://business.smh.com.au/australian-shares-in-freefall/20080122-1nan.html

[tridim]

1. Wow.. I think tomorrow might be D-day.

I usually don't panic about financial issues, but this is getting serious.

Gee, thanks a lot Bush. Nice legacy you made for yourself asshole.

[Paulie]

3. I suspect all the greedy people are going to try and short

then end up losing their shirts. "Bulls and Bears make money, but Pigs get slaughtered."

[7 of 11]

4. I could be wrong but we should be relatively okay

We've already had our forest fires so there isn't much left to burn. I suggest we could lose 3% tomorrow.

[villager]

2. Bush: Not just America's turd anymore

n/t

[7 of 11]

5. The man that exported our jobs exports himself

May be he can bunk with bin laden cause pretty soon he too will be on that most wanted list.

[BB1]

6. you're so right!

We've been complaining about Bush ever since he took office. Most of us thought it was a nice little president without too much brainfunctions - perfect for the job. But then the shit hit the fan, and it's all been downwards from that moment on.

Thanx George. Sucker. We're waiting for you in The Hague! (and you'd better bring some soap...)

[SpiralHawk]

7. "Smirk. Guess I'm screwing up. Again. As usual." - Commander AWOL