CNBC interrupts regular programming to cover the Fed Emergency Measures and world markets selloff...

[Purveyor]

No...this is not a drill!!!

[dchill]

1. Oh, shit.

And I though $4 gas was a big deal.

[salin]

2. Please update with what CNBC reports...

thanks.

[ancient_nomad]

3. What are they saying?

We don't get CNBC. This looks very bad. I fear for all of us. TIA.

[kenny blankenship]

6. Asian markets look like they're headed for a 5% haircut tonight

http://finance.yahoo.com/q?s=%5EHSI

[ancient_nomad]

11. Is that bad?

I've seen them down before by 3 to 4%. I'm not all that sharp when it comes to all this. I appreciate your answering me. Thanks.

[kenny blankenship]

19. In one night, not necessarily so bad. But do that over and over and over

-3% here -5% there, and pretty soon you have a -20% correction. If that doesn't start to bounce back the other direction pretty soon you have a bear market, not just a temporary "correction". 5 months ago the Hang Seng was trading at 31,000-almost 32,000-now it's trading at 21,000. If you put in 100 HK bucks early last November into a HangSeng index fund, you might have only 67 today. That's one hefty "correction", and the trend over that 5 month period has been steadily downward. No doubt the "correction" many are sensing is the correction of the burned finger. I don't want to get mired in a debate about whether this is merely a temporary correction or the start of a true bear cycle. I've nothing to say on that because there's no way for me really to know--except I'll say this: nothing could be more determinative of health or lack of health in the economy than rampant insolvency in the banking sector. Whether the market continues to slide or recovers depends most probably on whether we're going to hear more stories like the Bear Stearns collapse. Some people say we are, that hedge funds are imploding, that more banks are going to fail, that Lehman is next, and some form of catastrophe is now unavoidable. Some people are crossing their fingers.

There's no hard link between movements of exchanges in Asia and Europe and US markets, but Asia and Europe provide a loose barometer of sentiment. On any given day, theirs could go down and ours could go up, or vice versa; but if they were to go down hard, you'd kind of expect a bad day on Wall St., too. For if they moved strongly up or down it would presumably be motivated by something also felt here. Like banks collapsing. The Fed undertook unusual interest rate reduction here on Sunday to help provide lines of credit to strapped banks in situations like the investment bank Bear Stearns. Also on Sunday, Bear Stearns announced it was forced to sell itself off at practically a penny-stock shareprice to another bank. A night of wall-to-wall declines in Asia & Europe immediately following this Fed move & the Bear Stearns news, including a big decline on Hong Kong's exchange, signals that world markets are on balance more alarmed than reassured by Sunday's Fed action and all the related goings-on. In short, an unusually bad day in Asia signals that more worry exists today, post Fed announcement, than existed on Friday.

[high density]

16. Blonde with a nice accent, some makeup, and a green turtleneck

says the Yen/Dollar trading is interesting.

[high density]

4. Well CNBC simulcasting CNBC World isn't anything special

But it is more appropriate than showing "Deal or No Deal"

[Purveyor]

7. I've NEVER seen it done before. Most western markets down around 4 - 5%... eom

[Elidor]

14. Deal or no deal is the new reality show

Where the taxpayers get to bail out the banks. Only there's no real question as to the final answer: deal, whether you like it or not. Thanks, Bush.

[Robbien]

5. Thanks for the heads up. The other cable "news" stations

have no clue to what constitutes news.

[Purveyor]

8. They make me puke. I appauld CNBC for going with this international coverage. eom

[dchill]

15. They will tell us what they want us to know...

when they want us to know it. As per usual.

[dchill]

9. Dow futures down 271 @ 11711

:(

[tachyon]

10. The Ides of March.

Who knew?

[dchill]

13. "Who knew?"

CUI BONO?

[Theres-a]

18. Lots of folks

have been watching that light at the end of the tunnel for a while now,and it's not daylight.

[dchill]

12. Online ticker here:

http://finance.yahoo.com/indices?e=futures

[malaise]

17. Asian markets -steep losses

http://money.cnn.com/news/newsfeeds/articles/djf500/200803162107DOWJONESDJONLINE000410_FORTUNE5.htm

<snip>
Asian markets suffered steep losses early Monday on worries about global credit markets and a weakening U.S. dollar after J.P. Morgan Chase agreed to buy Bear Stearns Cos. for $2 a share and the Federal Reserve cut the discount rate by a quarter percentage point.

In Asian currency trading, the U.S. dollar sank against the Japanese yen, at one point dropping below the 97 yen mark before recovering. The greenback, which fell as low as 96.55 yen in early trading, recently bought 97.39 yen. It was quoted at 99.14 yen in New York late Friday.

In Tokyo, the Nikkei 225 Average lost 3.3% to 11,837.19, dropping below the 12,000 point level for the first time since August 2005, while the broader Topix index tumbled 3.1% to 1,155.90.

South Korea's Kospi lost 2.6% at 1,558.74 and New Zealand's NZX 50 index declined 1.7% to 3,441.28, while Australia's S&P/ASX 200 shed 2.5% to 5,074.20.