Dow down 4%

[MarillionFan]

Not really today's panic is following the markets final realisation that the ECB are a bunch of clueless muppets running around like headless chickens with no control over the actual purse holder (Germany).

Its not helped by the realisation that Spain is bankrupt and can't make a decision until December after the general election and Italy ain't much better off.

Europe looks like a seriously dead duck and I think I'll hunt outside banking for my next contract.

I disagree. The US brinkmanship has effectively spooked the markets. It's like a magnifying glass over the whole
world economy. The catalyst.

In the longterm the US has done massive damage to itselfS

[AtW]

Probably a bug in one of those high frequency trading programs sasguru works on when he does not post tulip on CUK, the rest was just reaction from the other poorly written software.

Next time use .NET!

[Mich the Tester]

Not really today's panic is following the markets final realisation that the ECB are a bunch of clueless muppets running around like headless chickens with no control over the actual purse holder (Germany).

Its not helped by the realisation that Spain is bankrupt and can't make a decision until December after the general election and Italy ain't much better off.

Europe looks like a seriously dead duck and I think I'll hunt outside banking for my next contract.

I don't think so. I think it's caused by worried people worrying and causing other people to worry. Worries about share prices cause share sell offs and price falls. Worries about a recession cause recessions. Worries about countries defaulting on bonds cause yields to rise, making it more likely that countries default. Worries about falling sales cause overrated so-called 'directors' (who are actually salaried managers with overblown bonusses and no risk of losing their own money) to panic and make lots of people redundant, thereby destroying consumer spending and causing falling sales.

What we need from the financial sector is less worrying and more competence. I suspect that's too much to ask.

[fullyautomatix]

FTSE opened 2.5% lower. This looks like a rough ride.

[MarillionFan]

FTSE opened 2.5% lower. This looks like a rough ride.

3%

Carnage in first 30 minutes. Banks 10% down again.

Buying opportunities appearing but it's Friday which is sell off day.

It's hit my average down limit, but it's mving down to fast. May sit it out a bit more.

[AtW]

And Prawn sold his gold assets, all 30 gramms of it...

[MarillionFan]

Added 25k in equities.

[Mich the Tester]

Added 25k in equities.

[MarillionFan]

Some of that is sticking to the wall.

[scooterscot]

Wonder how different the situation would be today if none of the UK / US QE printing programs ever took place?

Wonder how different the situation would be today if the banks (failed business) were allowed to fail in the first place.

Something tells me we'd be looking up instead of down.