Market snapshot: Major indexes pummelled

[shamsheer]

http://www.theglobeandmail.com/glob...pshot-major-indexes-pummelled/article2119921/

Major market indexes were pummelled Thursday afternoon.
Heres what happened to the following indexes, commodities and currencies:
As the European markets closed, both Londons FTSE 100 and Germanys DAX fell more than 3 per cent, at 3.43 and 3.40 per cent respectively.
The S&P/TSX composite index (TSX-I12,380.13-435.90-3.40%) was down 3.50 per cent. It took a slightly stronger hit than both the DOW Jones Industrial Average (DJIA-I11,383.68-512.76-4.31%) and the S&P 500 (SPX-I1,200.07-60.27-4.78%), which could have been spurred by its reliance on commodities. The American exchanges were down 3.11 and 3.39 per cent respectively.


Brazils Bovespa Index (BOVND-I56,017.22---2.26%) fell a whopping 5.39 per cent. To compare, markets fell about 6 per cent in a day during 2008s financial crisis. The countrys reliance on commodities could explain the massive drop.
Oil prices (CL-FT86.51-5.42-5.90%) took a hit and fell to $86.87 (U.S.) per barrel. Its price has not been this low since February 2011.
Not even gold (GC-FT1,652.70-13.60-0.82%) stayed in investors favour, as the commoditys spot price fell to $1,650.85. During the 2008 financial crisis, gold spot prices fell 28.96 per cent. Since the low, the price has rebounded more than 130 per cent to record highs.
Even safe currencies such as the Canadian dollar (CAD/USD-I1.02-0.02-1.83%) fell compared to the U.S. dollar. It fell to $1.0217 after hitting a peak of $1.0601 on July 21. Analysts had expected the Canadian dollar to beat its recent-history high in November 2007 of just over $1.10 by the fall.

 

[A.Ali.T]

http://www.theglobeandmail.com/glob...pshot-major-indexes-pummelled/article2119921/

Major market indexes were pummelled Thursday afternoon.
Here’s what happened to the following indexes, commodities and currencies:
As the European markets closed, both London’s FTSE 100 and Germany’s DAX fell more than 3 per cent, at 3.43 and 3.40 per cent respectively.
The S&P/TSX composite index (TSX-I12,380.13-435.90-3.40%) was down 3.50 per cent. It took a slightly stronger hit than both the DOW Jones Industrial Average (DJIA-I11,383.68-512.76-4.31%) and the S&P 500 (SPX-I1,200.07-60.27-4.78%), which could have been spurred by its reliance on commodities. The American exchanges were down 3.11 and 3.39 per cent respectively.


Brazil’s Bovespa Index (BOVND-I56,017.22---2.26%) fell a whopping 5.39 per cent. To compare, markets fell about 6 per cent in a day during 2008’s financial crisis. The country’s reliance on commodities could explain the massive drop.
Oil prices (CL-FT86.51-5.42-5.90%) took a hit and fell to $86.87 (U.S.) per barrel. Its price has not been this low since February 2011.
Not even gold (GC-FT1,652.70-13.60-0.82%) stayed in investors favour, as the commodity’s spot price fell to $1,650.85. During the 2008 financial crisis, gold spot prices fell 28.96 per cent. Since the low, the price has rebounded more than 130 per cent to record highs.
Even “safe” currencies such as the Canadian dollar (CAD/USD-I1.02-0.02-1.83%) fell compared to the U.S. dollar. It fell to $1.0217 after hitting a peak of $1.0601 on July 21. Analysts had expected the Canadian dollar to beat its recent-history high in November 2007 of just over $1.10 by the fall.

What do you think is going to happen tomorrow?

 

[shamsheer]

What do you think is going to happen tomorrow?

I do not know. I am not an expert but I think it is temporary. The economy will bounce back but not for long. This is just a tumultous ride of Capitalist system to its ultimate destiny.

 

[Bombaybuz]

Nothing much gonna happen ...zoin bankers will make few bucks out of it and poor people will be milked little more, no wonder prophet (SAW) was most worried for the end times... where interest will be like in the air and earning halal saleh rizq will be next to impossible.

 

[A.Ali.T]

I do not know. I am not an expert but I think it is temporary. The economy will bounce back but not for long. This is just a tumultous ride of Capitalist system to its ultimate destiny.

I think market is oversold, it may go up tomorrow or day after, which will be a great opportunity to sell into that rally.

 

[PkRevolution]

[h=2]China downgrades US credit rating[/h]03 August, 2011, 18:56



Chinas top credit rating agency downgraded the US debt, despite this weeks deal that many hoped would save the markets.

China's central bank governor called Wednesday for the U.S. to "take responsible policy measures to handle its debt," a day after the world's largest economy reached a bipartisan deal to reduce its deficit and lift its borrowing limit to avoid a default.

China, the largest foreign holder of US debt, is also telling America that it needs to take responsible measures with its debt issues to avoid global catastrophe. While avoiding default with a last minute vote to raise the debt ceiling and cut spending this week may have save the US economy temporarily, China says the United States need to keep an eye on things to avoid a risk of more trouble.

http://rt.com/usa/news/china-america-debt-credit/
__________________________________________________

United States is responsible for this trouble in finance markets. Companies and share holders lost billions and billions of $.

http://bquot.com/3o6

GOLD IS AT HIGHEST POINT. 1648.20$

6 Months Gold Chart:

http://www.comdirect.de/inf/indizes/detail/chart_kd.html?timeSpan=6M&ID_NOTATION=1326189

 

[only_truths]

China downgrades US credit rating

03 August, 2011, 18:56



China’s top credit rating agency downgraded the US debt, despite this week’s deal that many hoped would save the markets.

=QUOTE]

China's top credit rating agency is little known in the world ranking and will have no effect except for China may be. BTW, what is the name of this top credit rating agency?

The world's top four credit agencies are based in USA.

In Nov 2010 the Chinese Dagong credit rating agency downgraded US, and even then Chinese went ahead and purchased US securities.

 

[gazoomartian]

Today I made the usual trip to my mechanic friend and ran into my former mortgage broker, 60 year old, with 31 years experience behind him. Despite the booming economy of Alberta, he says his business is very slow.

He said US is finished in next 6 month. Yeh jo temporary debt ceiling raise hui hai woh murgha key martey waqt phar pharaney ki awaz hai. As per him, US govt will owe over $20T after next 6 months. The debt interest is at 0.25%. At that rate the interest payment of existing $14T debt is $35B with monthly compounded increment in interest. You can calculate the payment for $20T after 6 months. Free Masons got the US by neck. This is not a debt relief, it is a debt grief. This is just window dressing for something even worse.

Now I know what happened to all the gold in early 80's. I remember gold used to be $450/oz. Free Masons gobbled all gold in conspiracy to raise the gold price, which we see now at over $1500/oz.

The mortgage broker said Canada will not affected as much since prime minister Harper has taken initiatives and lined up investments from China and India. India is now a major investor in the Tarsands oil project in Alberta.

 

[angryoldman]

Very true.
its same as they gave bailout plan to Greece.but in next 6 months greece 'll be at same place.but for sure america 'll not collapse untill jews objectives not fullfill.huge drama's like 911 are waiting at the door.

 

[PkRevolution]

China's top credit rating agency is little known in the world ranking and will have no effect except for China may be. BTW, what is the name of this top credit rating agency?

The world's top four credit agencies are based in USA.

In Nov 2010 the Chinese Dagong credit rating agency downgraded US, and even then Chinese went ahead and purchased US securities.

Rating Agencies of United states are under pressure as in european countries. Today's raid in Italy on few of the worlds top rating agencies Moody's and Standard's & poors is an example of that.

Police raid Milan offices of Moody's and Standard & Poor's

"As stock and bond markets across the world tumbled on fears about Italy and Spain, it emerged that police acting on orders from prosecutors had raided the Milan offices of rating agencies Moody's and Standard & Poor's as part of continuing investigations into their role in the recent financial turmoil."

http://www.guardian.co.uk/world/2011/aug/04/police-raid-milan-moodys-standard-poors

Dagong Global Credit Rating Company is china's top rating agency.

China is only hope left for United States. American recession will also affect china'a economy and purchase of US securities was a step to slow down these crisis.

Markets are best place to analyse current situation.

DOW JONES INDUS. AVG

11,383.70

-4.31%

NASDAQ COMPOSITE INDEX

2,556.39

-5.08%

DAX INDEX

6,414.76

-3.40%

 

[sahiL]

let's see how many "number experts" it takes to come up to a solution at this siasat.pk stage......i'm not saying it'll be 100% right but somewhat close to reality according to the current statistics of US economy......

 

[only_truths]

@PK Revolution:

The action by Italian police may be due to US credit rating agencies speculative about Italian economy. It has nothing to do with American top rated crediting agencies credibility.

I will still bet on America. If America goes down, so will the world economy. Btw, as you rightly said the reason for Chinese to buy American securities is boost their exports. Now you understand who needs who.

I am just curious, if America prints dollars and pay off its debt to China, Do you know what that dollar currency value means to China? Unlike India, China does not have enterprising middle class population to support its economic growth but heavily dependent on poor western class to buy their exports.