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The Traders Thread - Thursday 23rd October (TRAD)     

Greystone - 22 Oct 2008 20:36

Greystone - 22 Oct 2008 20:37 - 2 of 23

Hello traders!

In the US tonight in late trade, the DJIA was down 510.94 points at 8,522.72,
while the S&P500 dropped 61.96 points at 893.09 and the Nasdaq Composite lost
92.83 points at 1,603.85.

See you in the morning with the latest.....

G.

Greystone - 23 Oct 2008 06:10 - 3 of 23

Good morning traders!

In the US last night, the Dow closed down 514.45 points at 8,519.21 with the
S&P500 off 58.27 points at 896.78 and the Nasdaq Composite 80.93 points lower
at 1615.75.

In Asia today, the Hang Seng ended the morning down 663.35 points at 13,603.25,
while the Nikkei was recently off 480.75 points at 8,193.94.

US light crude for December delivery rose 87 cents to $67.62 a barrel.

Happy trading!

G.

Kyoto - 23 Oct 2008 06:53 - 4 of 23

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

Tokyo's Nikkei 225 share average fell 6.9pc. It has now lost a fifth of its value this month alone. South Korea's Kospi index dropped 8.5pc, while the Hang Seng index in Hong Kong was down 653.33, or 4.6 percent, to 13,613.27, the first time it has fallen below 14,000 since July 2005.
Asian markets plunge after Wall Street slide

There is a moment that comes in every central banker's career when they suddenly realise the phenomenal power their merest words can have.
R is for rout as Governor scares the markets

The pound suffered its biggest fall since the aftermath of Black Wednesday in 1992 after the Prime Minister and Governor of the Bank of England warned that the UK is entering a recession.
Pound suffers biggest fall since Black Wednesday

Mervyn King, Bank of England Governor, has indicated that the Government is considering selling units in a Bank Reconstruction Fund containing the banks' shares.
Government plans to recover 37bn bank injection

Hungary has raised interest rates by three percentage points to 11.5pc in a drastic move to stop the collapse of its currency peg against the euro, raising fears of a crunch across Eastern Europe as a string of states are forced to follow suit to stem capital flight.
Crisis mounts in East Europe after shock 3pc rate rise by Hungary

Pakistan is asking for emergency aid from the International Monetary Fund (IMF) as the country scrambles to raise $4 billion (2.4billion) in 30 days to save its economy from collapse.
Pakistan asks IMF for emergency help as economy faces collapse

The great emerging markets sell-off continues with Hungary, Turkey, Poland and Argentina taking starring roles. Ukraine and Belarus meanwhile are both in talks for IMF loans. But how are things looking for Russia? Not so good according to Fitch.
Russia not so strong says Fitch

The White House yesterday called an emergency summit of the world's key economies for November 15 as fallout from the global financial crisis hit emerging market nations, causing havoc from Budapest to Buenos Aires.
White House calls summit of world's key economies

Hedge funds worldwide posted record losses in September as bans on short-selling and increased client redemptions hit funds, including Citadel Investment Group.
Hedge funds post record loss

The stricken US bank Wachovia reported yesterday the biggest quarterly loss of any bank since the onset of the credit crunch. The $24bn (14.7bn) of losses amount to more than the total price being paid for the North Carolina lender by its rival Wells Fargo, which was last night playing down the impact of the figures on the combined business.
Wells Fargo plays down $24bn loss at Wachovia

Prosecutors said they had opened an investigation into whether the bank's executives acted criminally in allowing KfW to transfer 319m (248m) to US investment bank Lehman Brothers the day it went bankrupt.
Police raid 'Germany's dumbest bank' in Lehman transaction probe

The American securities clearing house Depository Trust & Clearing Corporation (DTCC) and its European rival LCH.Clearnet have agreed to combine to create the world's biggest clearing house in an effort to cut trading costs.
Big US and UK clearing houses agree to merge

The system for assigning credit ratings to complex mortgage derivatives, which handed out gold-plated ratings to investments that have turned out to be worthless, was damned as "nuts" and as having created "a monster" and that was just by senior employees at the rating agencies.
Congress mauls bosses of credit ratings agencies

Kyoto - 23 Oct 2008 06:56 - 6 of 23

NIKKEI 225AUSTRALIA ASX200SHANGHAIHANG SENG
t?s=%5EN225t?s=%5EAXJOt?s=000001.SSt?s=%5EHSI
VIX
t?s=%5EVIX

Kyoto - 23 Oct 2008 06:59 - 7 of 23

PRESS DIGEST - Wall Street Journal - Oct 23

Greystone - 23 Oct 2008 12:25 - 14 of 23

Midday Market Overview

Kyoto - 23 Oct 2008 12:50 - 15 of 23

Precious Metals Summary - London AM Fixings
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