Australia's S&P/ASX 200 index tumbles 5.2% to 5,484.80... South Korea's Kospi skidded 6.2% to 1,704.64 he Nikkei 225 index fell 3.2% to 15,953.58, on top of Wednesday's 2.2% drop Hong Kong's Hang Seng Index dropped 3.2% to 20,684.71 Taiwan's Weighted index ank 3.5% to 8,293.13 Singapore's Straits Times Index slumped 3.6% to 3,155.06 New Zealand's NZX 50 index declined 1.4% to 3,947.84. I love PANIC days !!!
Volare Volare Classic stuff really when it goes up 5% in one day gee its a good thing. When it goes down 6% we suspend trading etc etc.
The last few weeks have been great for quote watchers like me, here are a few: ``Blood is hitting the streets, everyone seems to be panicking, and there's reason to panic,'' said Patrick Chang, who helps manage $4.5 billion at CIMB-Principal Asset Management Bhd. in Kuala Lumpur. ``There's been so much blow-up, we don't know when it's going to end. Liquidity is drying up.'' ``We're biting our nails here,'' said Tobias Davis, senior currency dealer at Custom House Global Foreign Exchange in Sydney. ``There's a massive unwinding of carry trades. Foreign-exchange and stock markets are being driven by fear. Everyone was prepared for a correction, but not to this extent.'' ``Money managers are being pressured to sell and they're going into cash and U.S. Treasuries,'' said Mark Mobius, who oversees $30 billion at Templeton Asset Management Ltd. in Singapore. ``It's a selling panic.'' ``This is where people take refuge,'' said Komal Sri-Kumar, who oversees $145 billion as chief global strategist at TCW Asset Management Co. in Los Angeles. ``The dollar is still a safe-haven currency.'' ``no one has called up and said the sky is falling.'' William Poole, president of the St. Louis Federal Reserve Bank,