Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By The Slog
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Crash2 Correction Time: Asia Panics & Western Futures Collapse

Monday, August 24, 2015 0:10

% of readers think this story is Fact. Add your two cents.

This is what The Slog posted last Friday.

Arabia and Asia are now in panic. Western market futures strongly suggest the same is about to happen here. For the first time in years, fundamentals in relation to economic data, commodity prices and collapsing world trade are being obeyed.

During Sunday trading, stock prices in Gulf states sold off massively. The Tadawul All-Shares Index in Riyadh, the Gulf’s leading market lost 6.86%. They should rename it the Tadawful. Property shares fell 9.5%, petrochemicals by 8%. Dubai’s DFM Index plunged 7%, the Abu Dhabi Exchange 5%, and Qatar 5.3%.

Overnight in Asia, the Shanghai Composite has so far fallen 8.5%, the Nikkie 4.5%.

This is all newsy-here-we-go stuff, but the signs have been there for some time: there has been, for example, an 18% chute on the German DAX since the ECB announced its ~~bank manipulation~~ economic stimulation plan some months back. In recent weeks, the dollars leaving the NYSE should’ve told investors all they needed to know. This got so bad in China, the government introduced Draconian laws to halt the selling, and the PBOC began frantically buying shares. But on 18th August, the Shanghai composite fell 6%.

Gold meanwhile had steadily climbed over the last 30 days. It began accelerating upwards eight days ago; it’s now 8.5% up in August to date. But all the other ‘real’ commodities like oil, lumber and copper have fallen off a cliff.

When Fed Chair Janet Yellen opted not to take a rate hike off the table last Wednesday, several gobby commentators said she was mad; events seem to have proved them right, but the Wall Street heavies have always been great believers in the self-fulfilling prophecy technique. Mind you, it did come hot on the heels of a Yuan devaluation.

Anyway, with the FTSE about to open (it’s 08:58 CET here), this is the dismal line up:

* Bloomberg Commodities index at 16 year low

* FTSE futures are saying at least 200 points drop.

* Dow Jones 400 point loss predicted

* S&P futures have plunged:

Welcome to The Correction. Whether it’s Crash2 or not remains to be seen. Stay tuned.

Filed under: BREAKING….. ASIA PANICS & WESTERN FUTURES COLLAPSE Tagged: Carnage in Arabia, Correction!, Futures off 16-20%, Shqnghai down 8.5%

Source: https://hat4uk.wordpress.com/2015/08/24/crash2-correction-time-asia-panics-western-futures-collapse/

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).

Comments

Online:
Visits:	1,602,708,220
Stories:	8,147,656