Lehman Brothers Collapse. Japan Economy Expectations. Sep 16

Sep. 16, 2008.
Stocks declined in Asian markets on Tuesday, a day after Wall Street's worst day in seven years.

After several hours of trading, Japan's Nikkei index ended Tuesday down 4.95 percent, while the Hang Seng Index in Hong Kong declined 5.9 percent. A leading indicator of stock values in South Korea -- the KOPSI index -- had gone down 6.3 percent.

The stocks tumbled a day after earth-shaking news in the U.S. financial industry sent shock waves up and down Wall Street, raising fears in Asia that a decline in U.S. consumer spending could hurt export-driven economies in Asia.

The venerable Lehman Brothers investment bank announced Monday it would file for bankruptcy despite frantic efforts to save it.

Then Bank of America bought another Wall Street fixture -- Merrill Lynch -- in an all-stock deal worth $50 billion.

As a result of those dramatic developments, the Dow Jones industrial average lost 504 points, or 4.4 percent, on Monday. It was the biggest one-day decline for the Dow on a point basis since September 17, 2001, when the market reopened for trading after having been closed in the aftermath of September 11, 2001 terrorist attacks. On a percentage basis, it was the biggest decline since July 19, 2002.

The Standard & Poor's 500 index lost 4.7 percent, its worst day since September 17, 2001, when it plunged 4.9 percent. The S&P 500 also closed at its lowest point since October 27, 2005.

The Nasdaq composite lost 3.6 percent, its worst single-session percentage decline since March 24, 2003. It left the tech-fueled average at its lowest point since March 17 of this year.

"It was an ugly day," said James King, president and chief investment officer at National Penn Investors Trust Company. "Lehman's failure to find a suitor and Merrill deciding to cash in their chips before a similar fate could befall them really stoked the fears of the public."

Stock markets in Europe fared poorly on Monday, as well, with leading indexes declining in value by 3.9 percent in London, England and 3.8 percent in Paris, France and Zurich, Switzerland.

Source:
http://edition.cnn.com/2008/BUSINESS/09/16/world.markets/index.html#cnnSTCText

Category:

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[shanesekiller]

Now Japan is trying to deal with china. If American collapse, they don't want to be attack by china.

[YoungSeungSKY]

US is based on its economy on consumption which in part causing this global economic problem. Federal Reserve is printing FIAT currency and expect other nations to accept us dollar for paying goods.

[chesterchan2005]

@versaceshirts lol, are u kidding. haha

[versaceshirts]

I remember her from when she was a reporter out here in l.a. She got fired for having an affair with a producer lol. Sucks, but she's obviously doin okay.

[63ghiavert]

I NEED SOMEONE TO TALK TO

why cant i see the video F8

[YesMrRight]

The world is sick.

America is sick.

1) What is the annual salary of President of America?

2) What is the annual salary of benefits of a CEO ?

If you are sick of what the greedy CEOs are earning , please post it here.

Even a dumb CEO got kick out of the company will get millions of dollars/shares etc.

Sick of it.

To be a President of a country, you are getting paid less than 10% of a CEO is getting.

Reminder.

Every country must change this "greedy CEO" salary .

[harryguitarjackson]

The banks system put its faith in fides and she only sells trust,this is what happens when you serve this pagan goddess.God told people not to go whoring after pagan gods. Fides goddess of trust,her temple on capotiline hill,one of the seven hills and highest of Rome,she kept watch over the senate,she is what your governments put there faith in,as they did not understand,( because of there greed ) the difference between. Trust and Faith.

Faith and God

[Wallnut072]

We arent much like we are portrayed on television my angry little friend.

[dowtoplunge]

the market is screwed. BLah blah..

go watch myspacesecrets here on youtube he rocks.

[genkikai2001]

shit i dont understand anyone of you