News Updates from Citizens for Legitimate Government
21 Jan 2008
Breaking: Stock Markets in Europe Plunge 7 Percent 21 Jan 2008 Global stock markets plunged on Monday as fears spread that the turmoil in United States mortgage markets is spreading. Indexes in Europe fell as much as 7 percent after a huge sell-off in Asia. “There’s something approaching panic in the market,” Holger Schmieding, the chief European economist at Bank of America in London, said by telephone.
Black Monday as biggest FTSE crash since 9/11 wipes off nearly £60bn in shares 21 Jan 2008 The stock market was in meltdown today as nearly £60billion was wiped off London shares. A combination of poor economic figures and the worsening global credit crunch sent the FTSE 100 plunging. At one stage the drop was the biggest since 9/11 in 2001, although the index of Britain’s biggest companies later clawed back some of the losses.
British shares in worst fall since Sept. 11 attacks —FTSE 100 index drops 323 points as miners and banks weigh 21 Jan 2008 Shares in London tumbled Monday in their worst session since the terrorist attacks on Sept. 11, 2001 as a sharp downturn in mining and banking shares pointed to growing investor fears about a slowdown in global economic growth and a U.S. recession. The U.K. FTSE 100 index declined 5.5%, or 323.5 points, to 5,578.20, led by financials including the Royal Bank of Scotland, which dropped 8.2%, and mining giant BHP Billiton, which fell 8.7%. On Sept. 11, 2001, the FTSE 100 dropped 287.70 points, according to data from Thomson Financial.
Updated: Jan. 22, 2008
Japanese Stocks Plunge in Biggest Two-Day Rout in 17 Years 22 Jan 2008 Japanese benchmarks plunged, completing the worst two-day drop in 17 years on concern global growth is faltering. The Nikkei dropped 9.3 percent in the last two sessions and the Topix fell 9.1 percent. That was the biggest two-day decline for both gauges since 1990 and erased 39.2 trillion yen ($369 billion) in value from the Tokyo Stock Exchange’s main board. The loss is more than twice the size of an economic stimulus plan suggested by U.S. President [sic] George Bush.
‘I think the blood bank is trawling all broker’s floors to recover the blood’ Australian shares in freefall —Sharemarket is now officially in a bear market 22 Jan 2008 Australian shares plunged a massive 7 per cent this afternoon as panic selling set in among investors over an expected slowdown in global growth. The benchmark S&P/ASX 200 Index had shed more than 7 per cent, down 393.6 points to 5186.8 points – its lowest since November 2006 – placing the market on course for a record 12th day of declines. The plunge equated to a $90 billion loss of market value. The latest plunge means the sharemarket has now lost more than 24 per cent of its value since hitting a record high last November and is now officially in a bear market.
India’s Sensex tumbles 11.5% in early minutes, trade halted 21 Jan 2008 India’s Sensitive Index tumbled 11.5% within the first two minutes of trading on Tuesday, forcing a trade halt for an hour. The index stumbled 2,029.05 points to 15,576.30, after slumping 7.4% in the previous session. “It doesn’t look good at all. We expected it to fall, but nobody expected this kind of correction,” said Sharmila Joshi, a trader with Prabhudas Lilladher in Mumbai.
FTSE 100 slumps as market rout deepens 22 Jan 2008 The rout in global equity markets accelerated this morning, with the FTSE 100 slumping more than 100 points in the first few minutes of trading, as gloom about the economic outlook for 2008 deepened. The drop to 5441.1 shortly after 8am comes a few hours after all of Asia’s major stock markets plummeted, continuing the bloodbath in share prices that saw London’s FTSE 100 yesterday suffer its biggest one-day fall since the 9/11 terror attacks.
£70bn wiped off shares as FTSE plunges 21 Jan 2008 More than £70 billion was wiped off the value of blue chip shares today as the London market suffered its worst one-day fall since the September 11 terrorist attacks in 2001. The stock market misery came as fears of a recession in the US intensified. Traders described the losses on the FTSE 100 Index as “incredible”, with the Footsie at one stage plummeting by as much as 330.7 points.