Monday, August 24, 2015

The Aussie stockmarket lost 64Billion today.  Worst drop since 2010.

So bunker down and prepare for the worst. its likely to continue!

read this

World stock markets plunge after fall of China shares; US dollar takes hit before stabilising
World stock markets have plunged following a near 9 per cent dive in China shares, but commodities and the dollar pared losses and United States stocks staged a striking comeback in a volatile session after European markets closed.
After dropping more than 1,000 points, or almost 7 per cent at Wall Street's open, the Dow Jones industrial average eased losses and was down 3.55 per cent at the closing bell.
The benchmark Standard & Poor's 500 index finished down 3.93 per cent after earlier approaching correction territory, or 10 per cent off its record high.
A key measure of US equity volatility, the CBOE Volatility Index, or VIX, shot above the 50 mark for the first time since 2009 before dropping back to 33 as US investors turned their focus back to domestic US issues.
"With those markets closed, it's now focused more on US fundamentals. The US economy remains relatively strong compared to others around the world," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
Anybody with a pulse was nervous when the market opened.
Michael James, Wedbush Securities
In comparison, US traders rushed for the exits in Monday's first half hour of trading when deepening concerns about a China-led global economic slowdown and tumbling commodities prices followed a 5 per cent decline in the both the S&P and Dow last Thursday and Friday.
"Anybody with a pulse was nervous when the market opened," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
"We're still going to see significant price swings both up and down before the day ends today.
"The only thing that's certain is the volatility is going to continue in the short term, given the magnitude of the moves that we've already had in the last four days."
 there's more on this link.....

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