Wednesday, October 22, 2008

Asian Markets Cratering ATT

Not looking good in Asia at the moment: Asian Markets

- Hang Seng down 5.5%
- Nikkei 225 down 6.25%
- Seoul Composite down >9%

1 Comments:

At 10/23/2008 9:06 AM, Anonymous Patrick said...

Roubini expects markets to shut down for "a week or two" beginning within days?

Roubini Says `Panic' May Force Market Shutdown, Fund Failures

Oct. 23 (Bloomberg) -- Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.

``We've reached a situation of sheer panic,'' Roubini, who predicted the financial crisis in 2006, said at a conference in London today. ``There will be massive dumping of assets,'' and ``hundreds of hedge funds are going to go bust,'' he said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=appqOCRR4JMU&refer=home

 

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