Japan's Nikkei 225 index tumbled more than 700 points at Wednesday's open in Tokyo, falling below 18000 for the first time in nearly a week, as investors sold stocks across the board in the wake of steep losses on Wall Street.
Not good.
Tuesday, February 27, 2007
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2 comments:
I don't know if this is terrible news for the world or good news. There has to be a correction to the inflated value of the US economy at some point in time. Nations like China, Japan, The Netherlands, South Korea can't keep biting their nails waiting for the US to declare peace.
The actions of CheneyCo. are clear, and that's a frightening prospect to the world economy -- bombing Iran is even more insane than occupying Iraq! No?
One downturn in the middle and working class economy for me here in New York City will destroy my small business, but I hope it's worth the de-throne-ing of the US economic bullying.
Too early to make predictions, but I'm biting my nails! :)
This is fascinating. As you, bonddad, quoted, "The Shanghai and Shenzhen 300 Index slid 250.18, or 9.2 percent, to 2457.49. The measure, which jumped 13 percent in the past six sessions, closed at a record yesterday."
In other words, this all began when the main Chinese index gave back only a week or so's gains.
An "emerging market" index that didn't even exist two years ago, and has well more than doubled in its short life, gives back 9% one day -- which it had just more than gained in the prior week anyway -- and the world recoils.
Yep, looks like China's on the global trading floor for real now, emphatically. In fact, the challenge before other markets may suddenly be to not look like followers.
Ironic, I guess that is.
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