Japan's Nikkei Index Plunges to -374 by 11AM, currently down over 400 by 11:56AM

[RollWithIt]

Over a billion shares traded before noon. Sell orders overloading the system. Lowest level since mid 2005 now. European markets open up in a few hours.

http://www.nni.nikkei.co.jp/


EDIT: Down 447 by noon in Japan or almost 4%

[AlCzervik]

1. Bloomberg is covering the asian market right now.

[RollWithIt]

2. What channel?

Just wondering...

[AlCzervik]

3. i don't where you live. I have comcast so it's chanenel 128 for me.

[RollWithIt]

6. Figures, I have comcast, bloomberg not offered in SW Florida

BLEH!

[Gman]

4. If the market crashes through 10,000

there may be no floor. The market may end up at 8,000, maybe 7,500 or 7,000 before some stability returns... who knows? Maybe lower.

[RollWithIt]

7. Actually, another 1000 will be trigger allout panic and a run on the banks...

At least in the US. It's the nightmare scenario, and it cannot be allowed to happen.

[aquart]

8. They'll suspend trading.

[RollWithIt]

9. Technically they can't halt trading until there is a 10% loss in one day....

So we'd have to see a 1000+ pt loss in one day to trigger the closing in a day.

[truebrit71]

14. Any bets that tomorrow isn't the day that happens?

I've been in the markets when they've halted trading before...panic breeding more panic...

We could see the Dow under 10000 by the end of tomorrow's trading...there is no floor...

[A HERETIC I AM]

5. At the moment, the Dow & S&P futures are basically flat.

http://www.bloomberg.com/markets/stocks/futures.html

Perhaps a bit of calm is coming. Calm would be good right now.

[RollWithIt]

10. Nikkei appears to be on course for at least a 5% drop....

Down 447 by noon.

[A HERETIC I AM]

11. Yup, but now at about ten to midnight eastern, the Dow looks better...

than it was when I posted before. The number Bloomberg was listing when I hit the Post Message button at 11:11PM was +6.80 or so. Now at almost midnight it is at +21.00.

I've no doubt there is still more volatility to come, but a bit of calm in the markets is a good thing, even if temporarily. If the Dow were to close very near where it opens tomorrow, Friday will be very interesting indeed.

[RollWithIt]

12. What I'm seeing indicates at least another 4% lost before the end of bell on Friday....

I agree with you, I would hope the market calms itself. But I'm just not seeing that happening until next week at the earliest.

[truebrit71]

13. Hong Kong is just shitting the bed...

...down 7%....Banks getting slaughtered all over the place...bloody good thing I'm broke or I'd be worried about my cash position....