All eyes on Wall St - What's your prediction?

Admiral Huddy

Admiral Huddy

Admiral Huddy

Man of Honour
Joined
17 Feb 2003
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Location
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After yesterdays stock market termoil, all eyes are on Wall St. today.

US markets were closed on Monday for a public holiday and index futures suggest that shares could be set for their biggest falls since the attacks of 11 September 2001.
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So much will depend on the US reponse to yesterdays news. The feeling here isn't good. Our traders here have been asked to have lunch early today, before Wall st opens.

The global markets are very much influenced by events in the US.

http://news.bbc.co.uk/2/hi/business/7201812.stm

What's your prediction for the markets this afternoon?.

With the fall of NR, house prices starting to fall and low consumer confidence, are we seeing the early signs of a recession?

The biggest falls:

20/10/87 down 12.2%
19/10/87 down 10.8%
26/10/87 down 6.2%
11/09/01 down 5.7%
22/10/87 down 5.7%
22/01/08 down 5.5%
 
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Massive panic on opening, Dow Jones down around 5% (if not a touch more) then stabilising later on but still some smaller falls.

My view anyway, who knows what will actually happen!
 
It's tricky. Confidence seems to be in free fall. I'm no expert but I think things will get worse before they get better. And Brown's response to all this is "prepare for more tax rises"!! Typical old labour.
 
If I knew a thing about it, I'd probably be more excited... but I heard that some companies have "had billions wiped off their value" on r1 this morn, is that true? Does that spell massive trouble for those companies?
 
The worlds going to start turning the other way, forcing us all to live in caves when our houses become so worthless that we have to abandon them or be killed, the dow jones will plummet to minus figures, oil prices will rise to $3000 per barrel, and oil will run out tomorrow anyway, the whole world will become a mad max-esque system of nomads.

Right, that's the usual negativity out of the way, moving on to something more sensible, it's hard to tell. There may be short term drops, but whether it will stick long term is much harder to predict, and depends on what steps are taken to prevent or restrict the impact of recession and whether they are appropriate and helpful.
 
I dare not look any of the asset managers in the eye today... they all look as though they're just about to break down in tears. :p
 
like i stated in other forum post;
well it boils down to the USA is in a pickle. Everyone will be affected by whatever happens there. Just depends how bad it gets for them.
 
I think we're heading towards a general recession - I've seen it before and similar signs are there. I've been saying this for some time to my friends and family. My business suffered as a result of the downturn in consumer confidence. One of my mates works within the housing market as an architectural technician and he has just been told his job is on the line. My other mate works as a wine merchant, and he has just lost his job. It's doom and gloom everywhere.
 
Dolph said:
The worlds going to start turning the other way, forcing us all to live in caves when our houses become so worthless that we have to abandon them or be killed, the dow jones will plummet to minus figures, oil prices will rise to $3000 per barrel, and oil will run out tomorrow anyway, the whole world will become a mad max-esque system of nomads.
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Aww man, I quite liked it up in Yorkshire when I went there last time.
 
Its a waiting game. Hopefully things will pick up, after September 11th things took time but finally found their feet.
 
if we where to go into general recession, what would be the worst that could happen relastic terms?
 
Admiral Huddy said:
So much will depend on the US reponse to yesterdays news. The feeling here isn't good. Our traders here have been asked to have lunch early today, before Wall st opens.
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"Lunch is for wimps."

"It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another."

God, I love that film although, admittedly, it's got next to nothing to do with the OP other than a flimsy link to Wall Street :o
 
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