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Dubai fallout: Shares extending losses, Dow futures off over 250pts
inspector_monkfish
Posts: 9,276 Forumite
05:25 27Nov09 Shares extending losses, Dow futures off over 250pts
05:24 GMT - [REGIONAL SHARES] an increasing sea of red as worries over state
owned Dubai World's 6mth debt moratorium continues to overwhelm sentiment.
The unknown and morseo how much actual exposure individual banks and
companies have to Dubai is shaking confidence across the board; though mkt
watchers are still confident Dubai will not default with the backing of
the rest of the UAE. Financial & construction issues are being the hardest
hit. S Korea's KOSPI has dived 3.5% to its lowest lvl in 3mths whilst HK's
Hang Seng is 3.45% lower. Japans Nikkei 225 extended its losses in the
aftn session after a modest breather, losing over 220pts or 2.5% to fresh
4mth lows. The moves are telling in that European shares risks to extend
their already hefty 3% over losses into Frid's session. Wall Street will
have a lot to catch up on after yest's mkt holiday with Dow futures as a
precursor presently 263pts or 2.52% lower, S&P futs off 2.8%.
05:24 GMT - [REGIONAL SHARES] an increasing sea of red as worries over state
owned Dubai World's 6mth debt moratorium continues to overwhelm sentiment.
The unknown and morseo how much actual exposure individual banks and
companies have to Dubai is shaking confidence across the board; though mkt
watchers are still confident Dubai will not default with the backing of
the rest of the UAE. Financial & construction issues are being the hardest
hit. S Korea's KOSPI has dived 3.5% to its lowest lvl in 3mths whilst HK's
Hang Seng is 3.45% lower. Japans Nikkei 225 extended its losses in the
aftn session after a modest breather, losing over 220pts or 2.5% to fresh
4mth lows. The moves are telling in that European shares risks to extend
their already hefty 3% over losses into Frid's session. Wall Street will
have a lot to catch up on after yest's mkt holiday with Dow futures as a
precursor presently 263pts or 2.52% lower, S&P futs off 2.8%.
Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)
(MSE Andrea says ok!)
0
Comments
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This kind of thing really isn't a shock is it ? I've been saying for the last 9 months that the recovery is fake, here in this country and around the world. The fallout will likely be worse now over the next 2 years as the truth is slowly exposed.
Joe Public, here and around the world need to get a grip of reality, issues like what happened last year do not go away overnight and certainly not because the media/government says so. Speaking of this country, nothing has changed since last year apart from we have borrowed and printed to make things appear better, that is all. Both policies are unsustainable.
The reality will make itself known, when QE is reversed and the borrowed money is to be paid back.0 -
The thing is, the markets have pretty much fully priced in a recovery in the world's economy. Anything which shows that problems are still extant will tend to hammer share prices.
I have my doubts myself over European and US economies - interest rates are near zero and countries are running unprecedented peacetime deficits and many are printing money and still GDP growth is very low with broad measures of the money supply only growing very slowly.0 -
What other potential houses of cards are out there?Five exclamation marks the sure sign of an insane mind!!!!!
Terry Pratchett.0 -
-
HammerSmashedFace wrote: »The UK perhaps ?
Beat me to it! :rotfl:There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
HammerSmashedFace wrote: »The UK perhaps ?
I think some of the EU countries (Ireland, spain etc) are a bit more wobbly than us at the moment.0 -
Latvia is up therePlease take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
Liverpool FC ?Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
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inspector_monkfish wrote: »Liverpool FC ?
Man U first.
(Is the Man city guy not from Dubai? Or is it Abu Dhabi?) 0
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