Word: dropping
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Timing made a difference between market reactions in Asia and Europe on Tuesday. While the Nikkei and Hang Seng rallied to limit losses to 4.1% and .8% respectively by the closing bell, they combined with an early 3.5% drop on Mumbai's Sensex and declines in Australia, South Korea, Singapore and the Philippines to darkened moods in Asia. By contrast, London's FTSE 100 reversed its initial dip to post a 1.7% gain for the day, while Frankfurt's DAX surged to end 0.4% up and Paris' CAC 40 finished the session a full 2% higher. Compare those with Monday...
...That drop in U.S. consumer spending along with the drying up of credit could well create a huge problem for Asian companies yet to be reflected in their stock prices. "We have not yet seen the impact in the corporate sector yet," says Irene Chung, a corporate director in ABN Amro's Asian markets trading business in Singapore. 'That's the scary part.' Chung expects a further decline of 20% to 30% in Asian equity markets. Not everyone is so bearish; Kowalcyzk predicts a further decline this year of 5%. But with most Asian markets already down 30%, or close...
...billion, which could buy a lot of crap CDOs. And then perhaps resell them at a profit. If we take that $1.2 trillion as a loss, the government foregoes tax money, because taxpayers will report lower incomes after they write off investment losses. Revenues drop, so the government then has to keep priming the pump by increasing spending, which will really tick off Representative Broun...
...thought she gave an excellent speech [at the Republican convention] and she is a moving and rousing figure. But I became concerned as the weeks passed at the manner in which the McCain campaign was treating her like she was a Fabergé Easter egg - don't drop it! It might crack! I can tell you that her interviews - to the extent that she has thought aloud - have not been impressive...
...Senate, the Senate blamed the House, John McCain blamed Barack Obama, Barack Obama blamed - well, you get the picture. Only one player remained relatively restrained in the aftermath of the defeat, which led to a 777-point free fall for the Dow Jones industrial average, the largest single point drop in history, and a market loss of $1.2 trillion. "We're not going to play the finger-pointing blame game, which is what today devolved into," sniffed White House spokesman Tony Fratto...