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 comment:

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.