Stocks Plummet in Germany, Hong Kong, India, Brazil in Rout

[Celebration]

Not good, not good at all. Just a hunch--something dramatic from the Fed, SOON! (Tuesday?, Wednesday?)

http://www.bloomberg.com/apps/news?pid=20601087&sid=a9UO8TjRgWDs&refer=worldwide

Jan. 21 (Bloomberg) -- Stocks plunged in Germany, Hong Kong, India and Brazil, and U.S. index futures dropped on mounting speculation that the global economy is slowing and company defaults will rise.

Europe's Dow Jones Stoxx 600 Index fell the most since the Sept. 11 terrorist attacks and sank into a bear market, as Allianz SE and BNP Paribas SA slid. Hong Kong's Hang Seng Index had its biggest drop in six years after BNP Paribas said Bank of China Ltd. may write down overseas securities by $4.8 billion because of losses from U.S. subprime mortgages. Citigroup Inc. retreated in Frankfurt.

The MSCI World Index slipped 2.3 percent to 1,405.27 at 1:53 p.m. in London, extending its decline from an Oct. 31 record to 16 percent. India's Sensitive Index lost the most since 2004, while Germany's DAX slid the most since March 2003. Futures on the Standard & Poor's 500 Index sank 3.5 percent. Trading in the U.S. is closed today for Martin Luther King Day.

``It's the worst I've ever seen,'' said Johan Stein, who helps manage the equivalent of about $14 billion at Nordea Asset Management in Stockholm. ``The financial system is in terrible shape, and no one knows where this will end.''

[tekisui]

1. Whatever the Fed trots out, it won't be enough.

The fixes and stimulus packages and rate cuts have done all that they can do. The losses are for real, now.

When US markets open on Tues. many people will be handed their asses.

[opihimoimoi]

3. Far too many fear...this time the FEAR is REAL...From Recession to Depression

The Perfect Storm is coming

1. Bush Policies have been disastrous

2. Bush persistently ignored good advice...

3. Bush is not a thinker/solver...he is a CHEERS kinda guy...rubs/kisses bald heads, everyone has a nickname, cannot remember jokes.....

4. Ironically, many rich Pubs will lose a few million if not Billion$$.....but most of them don't give a fuck...they still got enough to make cruises every 3 months.

5. Bushies LEGACY is reflected....he is a loser and he made America a LOSER TOO.

6. and them Republicans want another shot at the White House???

[tekisui]

5. By the Summer/Fall the debate will be ALL economy/recession.

And the puke nominee will be running for Chimpy Third Term.

It won't fly with America.

[opihimoimoi]

6. The photo of McCoy hugging Bush as New Orleans was drowning

will be the PHOTO OF DEATH.

The Prisoner of War Hero will be half valued by that pic.

[Angela Shelley]

7. Another word for FEAR is "NO TRUST"

Stock markets only function correctly when the participants have TRUST in each other to tell the truth.

[opihimoimoi]

8. The GOP M O is to Lie Cheat Steal....hard to get TRUST outta that

Can we ask Katherine Harris about her role in 2000 Fla election??? There it was for all to see...and worse, them Pubs were PROUD to have pulled off the Theft .....and they are of high morals?

Collectively...they are of unsound mind...too much Delusion and Denial....

[Brother_1969]

2. The soup lines will be much longer very soon n/t

[Kolesar]

4. I think the equities market was overvalued, but savers had no where else to put their money

So people "just kept buying" stocks.

I remember corrections on the scale of 16% in 1998 and 2001.