Global stock markets have been experiencing biggest drops since the crash of 1987

formulaonefan

http://news.bbc.co.uk/1/hi/business/7673668.stm

Well at least some of them!

FTSE down -5.53%
Dow Jones down -3.64%

Looks like investors are still not happy about the current economic climate.

Realy

formulaonefan wrote: »

http://news.bbc.co.uk/1/hi/business/7673668.stm

Well at least some of them!

FTSE down -5.53%
Dow Jones down -3.64%

Looks like investors are still not happy about the current economic climate.

So how is that affecting your mortgage hunting?:rolleyes:
Are you Blisk?:rotfl:

Chris2685

Well shares are now down to 1996 levels, I think it is quite a valid post...

sabretoothtigger

But not down to 2003 levels yet so really they could fall further.
What happened in 2003 that was so terrible, dotcom wasted alot of investment but Im struggling to think of why they could not go down to 3000 if credit markets do not return to normal which would be 1995

Realy

Chris2685 wrote: »

Well shares are now down to 1996 levels, I think it is quite a valid post...

I thought it went to around 3200 in 2003?

edit beat me to it by a few secs STT

GDB2222

Realy wrote: »

I thought it went to around 3200 in 2003?

edit beat me to it by a few secs STT

I bought a shedload of shares then, and until a month ago I was feeling pretty smug. Yes, damn smug, I can tell you. On the plus side, I am too young to retire, so I'll just have to get my finger out again.

sabretoothtigger

Not having a go because if anything you can hold onto them still but why didnt you sell after the ftse started falling again in may or so and it was clear the banks were in serious trouble, ie. hbos at 250 in june

On the other hand now seems a good time to start monthly contributions to a ftse tracker or similar, I'd definitly rank that avenue over buying a lump of shares now

I know of some nice cashback on isa trackers btw


I just want to start hearing they have fixed the big apocalypse problem which is the failure of credit markets, ie. small business insolvency failure which seems the financial equivalent of avian flu.
We dont want to see it jump the species gap like cjd and wipe out half the planet, this is still a prospect?

Chris2685

OKOK, apart from the weird uppy downy bit in 2003 :P

sabretoothtigger

It matters because previous levels act as support or resistance in present prices.
One guy allready said he bought in loads of shares at that price, so when we return you can find it acts as a pivot for further movement

http://www.tradingmarkets.com/.site/trading/glossary/Support/

However I think you have to consider volume and other factors and or its not that obvious to calculate, but even psychologically it will matter I think

Realy

sabretoothtigger wrote: »

I just want to start hearing they have fixed the big apocalypse problem which is the failure of credit markets, ie. small business insolvency failure which seems the financial equivalent of avian flu.
We dont want to see it jump the species gap like cjd and wipe out half the planet, this is still a prospect?

Thank you some one who sees the wider picture.
House price can fall but I still want some sort of economy left.
Anyone not wanting liquidity in the markets and wanting mass business failures just to get a cheap house are compleatly bonkers or don't know of the implications.
I hope the funding mesures work and to some extent they have to just to stop a recession turning in to a depression.

wolfman

Here's an interesting list of the biggest daily drops in the FTSE.

http://www.guardian.co.uk/business/table/2008/sep/19/ftse100.worst.days

In the top 12, 6 of them have been this year.

In the biggest increases, there has only been 1 from 2008 although it is 2nd.