Oct 16, 2008

Stocks Continue To Head Down

Following Wall Street's second biggest fall ever - down 7.87% our fall today at 4.82% didn't seem too bad. unfortunately we look like one of the best performers in the region. Taipei is doing better, but there the government intervenes like crazy so results are distorted. Tokyo also had the second worst day ever - down 11.41%. Seoul was down 9.4%. Hong Kong is down 6.4%, Singapore 6.6% , India 6.7%, Australia 6.67%. In other words the carnage has continued, but for different reasons.

How about Europe that has just opened? Down also, but so far not much more than 4%. Maybe all the hot air about a new Bretton Woods is having an impact.