Nikkei dives 9.4 percent, biggest 1-day fall since '87

[tekisui]

TOKYO (Reuters) - The Nikkei average plunged 9.4 percent on Wednesday, its biggest drop since the 1987 stock market crash, as growing fears of a global recession led investors to wipe $250 billion off the value of Tokyo shares.

Toyota Motor Corp (7203.T) tumbled more than 11 percent on growing expectations that the crisis would bite deeper into its profits, while the yen hit a six-month high against the dollar, adding to the pressure on exporter shares.

Panic over the fast-spreading financial crisis dragged down markets across Asia, with Japanese steelmakers such as Nippon Steel Corp (5401.T) sliding, as the Nikkei set another five-year closing low. It has lost 19 percent in the past five days.

"The deteriorating outlook for the economy and the deepening financial crisis are pushing fear to its limit," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management.

more... http://news.yahoo.com/s/nm/20081008/bs_nm/us_markets_japan_stocks;_ylt=AtUt6VqNEfjZiJ940qwejjas0NUE

[underpants]

1. Markets DOWN Japan 9%-Hong Kong 7%-Jakarta 10% (trading suspended) FTSE (UK) down 4%

:scared:

[tekisui]

2. The DOW Futures were down about 145.

I just checked, in the last 30 minutes, they are now up 178?!?

What happened?

[underpants]

3. Let us all stay calm

We have to remember that wild market fluctuations are a GOOD THING

:sarcasm: