World economy talk

[Monseratto]

Asian stocks swoon as China stock rout accelerates

Mainland markets in free fall

More than $5 trillion has been wiped off the value of global equities markets since China's shock devaluation of the yuan on August 11 sparked fears the world's second-largest economy is weaker than thought.

The rout in China's benchmark Shanghai Composite index gathered pace early Monday, sinking as much as 8.2 percent to a five-month low of 3,218.5 points, even as authorities allowed pension funds managed by local governments to invest in the stock market for the first time over the weekend. The move could potentially channel hundreds of billions of yuan into the country's struggling equity market.

In Hong Kong, the Hang Seng index tracked the sluggishness in its mainland peers to fall nearly 4 percent at the start of trade, with heavyweights such as HSBC and China Mobile losing more than 3 percent each.

Japan's Nikkei 225 index hit a fresh five-month low of 18,812.4, as the yen climbed against the U.S. dollar amid cooling bets that the Federal Reserve will raise U.S. interest rates next month.

The Topix index lost nearly 4 percent in early trade, bringing the losses from its eight-year peak hit less than two weeks ago to more than 10 percent.

In Southeast Asia, Philippine shares were the biggest losers, down 5.4 percent at its lowest level since December 2014.

Singapore's Straits Times index remained well below the key psychological level of 3,000 points, dropping 2.7 percent to touch a more than three-year low. Meanwhile, Malaysia's FTSE Bursa Malaysia KLCI index retreated 1.7 percent to a three-and-a-half-year low, while the ringgit hit a fresh 17-year low against the greenback.

[Monseratto]

Meanwhile one Singapore dollar=3 Malaysian Ringgit...




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Meanwhile one Singapore dollar=3 Malaysian Ringgit...

[Lady Bathory]

EURUSD is up 500 pips in 4 days. The ECB's ultra-low rates encouraged lots of leveraged carry bets. Risk aversion = unwinding time (see European equities). The euro also gained on the repricing of the dollar due to lowered Fed rate hike expectations.

[CVT]

Significant drops in Asia... Wall Street is jittery... Opening in a few minutes....

[Monseratto]

Bloody Black Monday....

Wall Street in free-fall as traders ditch stocks amid global rout
By Adam Samson
1 hour ago

Wall Street plummeted early Monday -- with the Dow falling more than 1000 points -- as traders aggressively sold stocks and bid-up only the safest asset classes.

The Dow Jones Industrial Average tumbled 1065.4 points, or 6.5%, to 15419, the S&P 500 plunged 97.6 points, or 4.9%, to 1874, and the Nasdaq Composite dived 328 points, or 7%, to 4385.

[Monseratto]

Apple plunges 5% to break below $100 a share - Yahoo Finance

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http://finance.yahoo.com/news/apple-plunges-5-break-below-121027426.html

[dreamur]

Puuulisss stop!

[Lady Bathory]

Dad: did you get wiped out?
Me: nope
Dad: how?
Me: 100% cash since the end of July
Dad: I was hoping you got wiped out so you get a real job
Me: haha

[Lady Bathory]

PSEI trading halted.

[denkatol]

why trading halted