Aisan stocks sink; dollar at 13-year low vs. yen

[fortysixandtwo]

http://biz.yahoo.com/ap/081024/world_markets.html


Asian stocks sink; dollar at 13-year low vs. yen

Friday October 24, 3:13 am ET
By Alex Kennedy, Associated Press Writer
Asian markets sink further as Sony plunges on dismal outlook; dollar at 13-year low vs. yen

SINGAPORE (AP) -- Asian stocks tumbled for a third day Friday on persistent worries that a global recession will eat into corporate profits and the U.S. dollar sank to a 13-year low against the Japanese currency, falling below 95 yen.

Shares of Sony plunged more than 14 percent after it slashed its earnings forecast for the fiscal year, citing deteriorating sales of flat-panel TVs and other gadgets and the strong yen.

Sony's news "was yet another indicator that the global economy is really slowing," said Yutaka Miura, senior strategist at Shinko Securities in Tokyo. "The revision had a very negative impact on other tech-related stocks," such as Panasonic Corp.

"Investors remain worried over growing uncertainty about the state of the global economy," Miura said.

Asian markets seemed to shrug off a rebound Thursday in European markets and on Wall Street.

Japan's Nikkei 225 stock average slid 9.6 percent to 7,649, its first close below 8,000 since May 2003. Investors were unnerved by a surge in the yen, which sent the dollar as low as 94.75 yen, the lowest since August 1995.

[knightbk]

Its the FEAR Effect.

Everybody is scared shitless, so the market goes down.

It has a ways to go before it botoms out I think, but it will bottom out and things will recover, better than before due to the simple fact that we will life simpler lives with less "stuff" that means less resource issues.

[tracker]

Its the FEAR Effect.

Everybody is scared shitless, so the market goes down.

It has a ways to go before it botoms out I think, but it will bottom out and things will recover, better than before due to the simple fact that we will life simpler lives with less "stuff" that means less resource issues.

i dont see why so many are bothered .

its all doing the world some good , and quite frankly , im on the edge of my seat , just waiting for every one to rip each other up .
such is the decedance of our civilisation who is stupid enough to believe they are a piecefull loving race and can mess with nature .

i have a hill top reserved just for that time with some french fries and a burger to go .
its gonna be better than any film , why dont you make a reservation too ?

its gonna be a show thats for sure .:cool:

[killmicrosoft]

Its the FEAR Effect.

Everybody is scared shitless, so the market goes down.

It has a ways to go before it botoms out I think, but it will bottom out and things will recover, better than before due to the simple fact that we will life simpler lives with less "stuff" that means less resource issues.

simple fact the markets will not recover when the botoms out they will create a new market that looks the same but is not

[tracker]

simple fact the markets will not recover when the botoms out they will create a new market that looks the same but is not


now that was an interesting remark , sounds plausable too .

hhhm , thats got me thinking now , that was a good observation .:cool:

[knightbk]

simple fact the markets will not recover when the botoms out they will create a new market that looks the same but is not

Maybe, maybe not. Unlike some around here, I am not so quick to jump onto the "OMG WE ARE ALL GOING TO DIE!" bandwagon.

[killmicrosoft]

Maybe, maybe not. Unlike some around here, I am not so quick to jump onto the "OMG WE ARE ALL GOING TO DIE!" bandwagon.


the markets will not kill you!!!!!!!!!!!!!!!!!!!!!!!!!!!!




ignorance will!!!!!!!!!!!!!!!!!!!!!!

[killmicrosoft]

now that was an interesting remark , sounds plausable too .

hhhm , thats got me thinking now , that was a good observation .:cool:

why thank you sir