Deja vu all over again

I dialed up the Drudge report today, hoping against hope that the Asian stock markets had calmed down and Wall Street might recover its footing today. Apparently not, and President Bush will address the country tonight after another bloodletting because interbank lending remains tight and fear reigns. Thank God we passed that rescue package, right? As I read on one Internet board, our 401Ks are now 201Ks....



Nikkei has biggest one day drop since '87 crash From Reuters:

Japan's Nikkei stock average dived 9.6 percent on Friday, its biggest one-day loss since the 1987 stock market crash, on growing fear the financial crisis will spark a global recession. The benchmark average's drop of 24 percent for the week was more than double the weekly drop right after the 1987 market crash.

London bloodbath after panic selling sweeps Asia From the Times Online:

Panic shot through stock markets around the world today, suggesting that drastic actions by central banks have failed to calm investors.
The sell-off in stock markets worldwide came after after devastating falls on Wall Street yesterday.
London shares dropped below 4,000 for the first time in five years, and were down 325 to 3,988 at noon. The pound fell to $1.6909, its lowest level against the dollar since 1992, and was down 1.2 per cent against the euro.