-UPDATE-
It was down as much as 800 points today, but it ended here:
Dow Jones Industrial Average. DJIA (INDEX)
9,955.50, Change:-369.88, -3.58%, Volume:391,456,801, 4:09pm, 10/06/2008
-UPDATE-
Dow Jones Industrial Average. DJIA (INDEX)
9,763.07, Change: -562.31, -5.45%, Volume:190,611,619, 1:37pm, 10/06/2008
This is “Fun”?
DJIA 9,852.99, Change: -489.43, -4.74%, Volume: 144,650,495, 11:54am, 10/06/2008
http://www.marketwatch.com/quotes/djia?siteid=bnbh
Folks all suddenly want to have economic summits:
S Korea wants financial summit with China, Japan
OCT 6, 4:08 AM EDT
SEOUL, South Korea (AP) — South Korea’s ruling party says President Lee Myung-bak will propose a summit with China and Japan to discuss how to cope with the current global economic crises.
The Grand National Party says Lee told party leader Park Hee-tae on Monday that he will propose the three-nation summit during the Asia-Europe Meeting in Beijing later this month.
GNP spokesman Cha Myeong-jin quoted Lee as saying the three nations can “overcome the financial difficulties” if they cooperate.
Lee’s presidential Blue House confirmed Cha’s comment, but it is not clear when Lee wants to hold the summit.
Jitters about the current credit crisis have affected many Asian countries. A recession in the U.S. would batter Asia’s export-oriented economies.
Copyright 2008 Associated Press
I heard Treasury bill purchases went up 40% as people look for safety. So even with the 700 billion defict we just bought, bond yield went down. US bailout or not, no one is happy today:
Asian Markets Open Sharply Lower
By VOA News
06 October 2008
Asian markets are sharply lower in morning trading Monday.
[Key markets in Tokyo, Hong Kong and Taipei are all down about 3.5 percent. Japan’s Nikkei index has fallen to a four-year low.]
Europe isn’t faring any better:
October 6, 2008
Financial Crises Spread in Europe
This article was reported by Carter Dougherty, Nelson Schwartz and Floyd Norris and written by Mr. Norris.
[European nations scrambled on Sunday night to prevent a growing credit crisis from bringing down major banks and alarming savers as troubles in financial markets spread around the world, accelerating economic downturns on three continents.
The German government moved to guarantee all private savings accounts in the country on Sunday, hoping to reassure depositors who had grown nervous as efforts to bail out a large German lender and a major European financial company failed…]
Saturday 4 October 2008
EU leaders agree finance package
European leaders have agreed to ask for the early release of £25 billion in European funds to help small businesses weather the global finance crisis, the Prime Minister confirmed earlier.
Although Ford just laid off 20% of it’s work force in South Africa, not every thing is bad so far the continent. Even with the recent hostage crisis Nigeria had this annoucement:
Nigerian Foreign Currency Reserves Rose 3% to $61.9 Billion
Monday, 06 October 2008
By Paul Okolo
Oct. 3 (Bloomberg) — Nigeria’s foreign currency reserves rose 3 percent to $61.9 billion in September, the central bank said.
The reserves increased from $60.1 billion a month earlier, the Central Bank of Nigeria in Abuja said today on its Web site. The reserves peaked on Sept. 18 when central bank Governor Chukwuma Soludo said they stood at $63 billion, enough to cover 16 months of import requirements.
The bank did not give any explanation for the decline in the second half of the month. Record oil prices have helped the West African country build the biggest currency reserves in sub- Saharan Africa.
Nigeria has Africa’s biggest hydrocarbon reserves, with more than 30 billion barrels of crude oil and 187 trillion cubic feet of gas. The country, which Bloomberg data show was the continent’s top oil exporter in July and August, is the fifth- largest source of U.S. oil imports.
http://afrikalink.com/index.php?option=com_content&task=view&id=877&Itemid=1
South America seems to be a little behind in this crisis in that it’s not smeared all over the front pages of four different countries I checked. However, they are watching and concerned:
Coordinated play promised on economic crunch
Facing the storm jointly
According to Boudou, “Massa is a team player and the president has asked him to coordinate the government’s actions (regarding the crisis).” The committee is to include representatives from the Central Bank, AFIP, ANSeS and the pension fund and stock exchange monitoring agencies.
http://www.buenosairesherald.com/argentina/note.jsp?idContent=534993&hideIntro=true
I Own My Vote, PUMA, The Denver Group, Just Say No Deal
Grab and Keel 
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