Thursday, August 04, 2011

The South Shore Sinkhole ate the stock market

Not a great day in the markets,and if you want me to be more specific than not a great day in ANY market.  Every flipping bourse closed down, down, down doobie down.

Reuters:  Wall Street suffers worst sell-off in two years
FT: Global stock sell-off accelerates
Bloomberg:  Japan stocks plunge most since March amid global equities rout
     Bloomberg resists the urge to use "sell-off."
IBD:  U.S. stocks pummeled on economic worries
The Guardian:  Police raid Milan offices of Moody's and Standard and Poors
Sydney Morning Herald:  Black magic behind sharemarket carnage
     From this article:  After the ASX opened today, shares fell 4.4 per cent on the All Ordinaries Index, or 192.3 points, to a two-year low of 4160.6. The dive adds to the $65 billion or so lost since Tuesday.

So that's good news.  The rapine of stock markets continues, rolling west from PacRim to Europe to Americas to PacRim again.

Oh, and gold & oil sold off.  Margin calls.

Meanwhile, the South Shore Sinkhole at 70th Street and Oglesby is growing.  That Sheltie in the lower left corner better be careful.

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