Iko Ward: Europe market beginning to creep down. DAX at -4.19%. Crude is down to 38.9. ISX lost a full 1% last night. Dubai recovered to -1.41%. Forex currently 1120. The ride ain't over. Loop de Loop coming up at 9AM EST
Harambe: The world is entering a “new era” of low oil prices that will sweep away currency pegs in crude-producing nations, according to the prime minister of Kazakhstan, which roiled markets this week with a surprise decision to abandon control of its exchange rate.
Vikkimark: Dow Futures plunging 400+ points; S&P and Nasdaq Futures also steeply lower - @CNBCnow
NurseGinger: They are referring to today as Black Monday....a reoccurrence of 1987…Global Markets Around The World are down.
Locofelipe: THe Nikkei- down -4.61% / the hong kong Hang Seng is down -5.17% / FTSE England is down -2.87% / Germany is down -3.08% ////light crude is down -3.63% to 38.98……
All I can say is this is the making of a perfect financial storm....... today will be a historical day. I beleive that there will be some emergency meetings taking place today. all big banks are going to take a bath
CODreamer: I'm so glad we all have a front row seat to watching the GCR roll in - very exciting
Harambe: The dollar index, which measures the greenback's performance against a basket of six major currencies, fell 1.07 percent to its lowest in two months as investors pushed back expectations of a rate hike by the Federal Reserve in September. The 10-year U.S. Treasury yield fell below 2 percent, diminishing the dollar's allure.
PKG: This day of reckoning for the stock markets has been predicted for some time. You just can't keep pumping funny money into the system, as the U.S. has, and not expect a correction. Add to this the fact that China's economy is slowing dramatically, and they have been taking drastic measures to minimize their losses....and voila, you have the bloodbath we are seeing. Can't say there were no warnings.
Jsstripler: China's stock market suffers biggest one-day fall since 2007......."It feels like the end of the world," said Pan Chong, a social media specialist. He said he invested 50,000 yuan ($7,900) in April, made 40 percent and then saw the market wipe out those gains.
The world is not ending in China is not trying to destroy the US economy but this will lead to the result we are all looking for
Rrrr: The silence is eerie. There’s a stillness in the air. No news around to share. Is this the calm, prelude to the storm? The time when the RV cometh, and turns our dreams into reality? We’ve endured so much already, survived through each delay. We know we must stay ready, for that glorious inevitable day. When what was is no matter, when all that will be is here. When it is time. When it is right, our path will then be clear. Stay focused. Stay Calm. Stay Ready!
SassyD: Iran is flooding the oil market of one million barrels per day -- 08/24/2015 01:30 -- http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl= translate.google.com&sl=auto&tl=en&u=http://www.faceiraq.com/inews.php ?id=4117843&usg=ALkJrhgdwUrBzDw1SgEATyzgmXHjL3uWow
Shybaby: Bloodbath in Asian stock markets
August 24th, 2015 12:55 PM
HONG KONG, China — Asian stocks were a sea of red Monday, with Shanghai slumping more than eight percent as deepening concerns about China’s stalling economy rattled equity investors around the world.
Oil Prices fell after slipping below $40 a barrel for the first time in six years, as weak Chinese manufacturing data deepened worries about the slowdown in the world’s number two economy.
BACKSTORY: US oil falls below $40; lowest in six years
China-linked shares tumbled in early trading, with Hong Kong dipping 3.91 percent while Shanghai plunged 8.19 percent in early deals.
Tokyo dived 3.09 percent by late morning, while Seoul lost 1.88 percent and Sydney fell 2.89 percent, extending heavy losses from last week.
“Today has all the hallmarks of being one of the worst trading days of the past five years,” said Evan Lucas at IG Markets.
“The reaction from Asia today will be symptomatic of the current investor sentiment and belief that a hard landing (in China) is inevitable.”
The losses early Monday followed a steep fall in US and European Stocks on Friday, while several commodities plunged to multi-year lows and emerging market currencies took a battering.
Global equities have lost more than $5 trillion in value since China’s shock currency devaluation on August 11 sparked fears the world’s number two economy is slowing more than thought.
Wall Street saw heavy falls on Friday, with the Dow Jones Industrial Average posting its worst single-day sessions in four years, after data showing Chinese manufacturing activity slowed to a 77-month low added to the gloomy picture.
Pension fund buying equities
China on Sunday said it would allow its huge state pension fund to buy equities, after a package of measures unleashed by Beijing last month to shore up equities failed to stem the rout.
The fund , which had some 3.5 trillion yuan ($550 billion) in net assets at the end of 2014, will be able to invest up to 30 percent in equities, according to state media.
But analysts said the move would not be enough to stem the losses in Chinese shares at a time when global market sentiment was bleak.
“The market is going to drop further. It’s normal as the markets across the whole world are falling,” Qian Qimin, an analyst from Shenwan Hongyuan, told AFP.
“The entry of the pension fund will take a long time to happen. And valuations are still not cheap.”
Oil prices also fell, after breaking below $40 barrel for the first time in six years Friday on concerns about waning demand in China, the world’s top energy importer.
Data showing the number of US drilling rigs rose last week, despite the slump in prices, added to concerns a global supply glut will last for years.
US benchmark West Texas Intermediate for October delivery fell 87 cents to $39.58 while Brent Crude for October eased 81 cents to $44.65.
Jitters over China and the global economy saw traders drop the dollar and move into the yen — a safe haven in times of turmoil and uncertainty — while the currencies of Malaysia, Thailand and South Korea all hit fresh multi-year lows.
The greenback fell to 121.13 yen in Asia Monday, down from 122.06 yen in New York Friday. The euro was $1.1447 and 138.66 yen, mixed from $1.1386 and 138.97 yen.
Safe haven gold rose to $1,161.60 compared to $1,154.45 late Friday.
Read more: http://business.inquirer.net/197771/bloodbath-in-asian-stock-markets#ixzz3jjLkqRvn