Friday, October 10, 2008
The Dow Keeps On Tumbling...
What a week, what a week, heauxz:
* OJ in jail...again.
* John McCain still alive...barely.
* Congressional hearings? Fuck that. We want congressional lynchings!
* some of our most precious animals are fighting extinction, yet celebu-skanks are spreading like crotchfire
And last but certainly not least...
* The DOW is dropping quicker than Paris Hilton's panties at a fraternity keg party. And now it is not alone.
The FTSE-100 index of leading British shares fell 10 percent in the first few minutes of trading Friday on the London Stock Exchange, tracking steep declines in Asia and the U.S.
Paris' benchmark CAC-40 index also dropped 8 percent in early trading. Russian stock exchanges postponed trading after massive selloffs on Wall Street and Asian markets.
The falls in London and Paris came as Japan's key stock index plunged a stunning 9.6 percent Friday to close out its worst week in history as frantic investors worried about a global recession dumped stocks after huge losses on Wall Street.
The benchmark Nikkei 225 index tumbled 881.06 points to 8,276.43, its lowest since May 2003. It was its biggest one-day percentage loss since the stock market crash of October 1987.
"Selling is unstoppable in New York and Tokyo," said Yutaka Miura, senior strategist at Shinko Securities Co. Ltd. "Investors were gripped by fear."
The index dropped by more than 11 percent at one point but recovered modestly in the afternoon.
Still, investors reeled from a brutal week. On Wednesday, the index had plunged 9.4 percent. Since last Friday, the Nikkei has lost nearly a quarter of its value.
Put your money where you spend most of your time...your bed!
You heard it here first!
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The Dow
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