Great Depression II ?

Japan's Nikkei plunges 9.4%, biggest drop in 21 years
TOKYO: Japan's stock market plummeted 9.4 percent, Its biggest one-day drop in 21 years, on Wednesday as investors rushed for the exits on deepening fears over the global financial crisis.

The benchmark Nikkei 225 index nose-dived 952.58 points to 9,203.32, a five-year low. That was its third-biggest drop in percentage terms and largest plunge since October 1987.

The massive sell-off in Tokyo follows a plunge on Wall Street Tuesday, when the Dow Jones industrial average lost more than 5 percent despite steps by the Federal Reserve to reinvigorate dormant credit markets.

http://biz.thestar.com.my/news/story.asp?file=/2008/10/8/business/20081008160936&sec=business

Jakarta suspends share trading after 10% fall
KUALA LUMPUR: Indonesia’s Stock Exchange has suspended trading in its equities and derivatives at midday on Wednesday after the Jakarta Composite Index fell 10%.

In a statement posted on its website on Wednesday that the suspension of trading in all markets was “due to significant decrease of the JCI to a level of 1,451.669 at 11.06am”.

“The trading is suspended until further announcement,” it said.

According to the data, the Jakarta Composite Index fell 168.05 points to 1,451.66, prompting the stock exchange to suspend trading.

Bloomberg said this was the first time in eight years that trading was suspended. Trading was last halted in September 2000 when a car bomb damaged the exchange building and killed 15 people.

Source: The Star Online

On the brink of bankruptcy
Iceland could be the first country to declare bankruptcy due to the financial meltdown.
http://news.yahoo.com/s/ap/20081007/ap_on_re_eu/eu_iceland_meltdown_1

EQUITY INDEXES

VALUE CHANGE % CHANGE
Topix 899.01 -78.60 -8.04
Hang Seng 15,431.73 -1,372.03 -8.17
Singapore Straits Times 2,033.61 -143.94 -6.61
S&P/ASX 4,388.10 -230.60 -4.99
Source: Bloomberg

No Malaysia KLCI data in Bloomberg, nvm, i add it for future reference:
KLCI 970.19
Change -27.04
% Chg - 2.71% (the % change have to calculate myself (SIGH) since The Star and Bursa website just provide the absolute change. Dont you guys think the % change is more important and USEFUL??). So if anyone working there read this, pls ask them to include the % change here: http://biz.thestar.com.my/
http://www.bursamalaysia.com/website/bm/
For a good example, see OSK188.com


Too many bad news in the market now!! But Warren Buffett is on shopping spree. Be greedy when others are fearful?? How long will the selldowns last? Let's wait and see (at the same time, read The Snowball).