Japan's Nikkei falls over 11 percent

[Roland99]

Japan's Nikkei falls over 11 percent
http://rawstory.com/news/2008/Japans_Nikkei_falls_over_11_percent_1009.html

TOKYO (AFP) - Japan's headline Nikkei-225 index fell more than 11 percent Friday in a massive plunge amid a global financial crisis.

The index lost a whopping 1,042.08 points or 11.38 percent to 8,115.41 in the morning trade before trimming losses.

The headline index continued to fall following an overnight sell off on Wall Street.

:scared:

[SahaleArm]

1. Anticipation for tomorrows Lehman CDS settlement

$360-Billion in losses at 2pm tomorrow; CDS chain reaction could occur.

[BR_Parkway]

2. What does that mean exactly? CDS = credit default swaps - but what

is that report going to be about?

[AlCzervik]

4. Lehman's auction tomorrow, we get to find out exactly how much and at what price we the people

are paying for.

[Roland99]

5. The piper is calling. I believe we're about to see some runs on hedge funds and such

Those mega trillions in overleveraged "wealth" are about to be wiped out.

A new interesting thread:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4206138


And this would explain why *everything* dropped today (stocks, Treasuries, commodities). Everything is going to cash:

$400 Billion Lehman CDS Unwind?
http://bigpicture.typepad.com/comments/2008/10/lehman-cds-unwi.html

[Arctic Dave]

3. People were worried about the Haldron Collider creating a black hole.

Who woulda thunk it was Wall Street sucking the place into oblivion.x(

[Roland99]

6. DJIA futures -283 right now. And want something else to stress about until tomorrow?

http://www.rgemonitor.com/
What Is Really Bothering Markets: Lehman's CDS Settlement on October 10 With A $360bn Expected Payout


Comments here:
http://bigpicture.typepad.com/comments/2008/10/lehman-cds-unwi.html