Stock Futures Frozen After Steep Plunge

[tekisui]

NEW YORK (Reuters) - Stock index futures tumbled so sharply on Friday they had to be frozen at several points as global markets tumbled on signs the global economy is in the throes of recession.

Stock markets were in freefall around the world as panicked investors moved to liquidate risky positions. Japan's Nikkei index ended down 9.6 percent and European shares lost 8 percent.

By 7:00 a.m. in New York December Dow Jones futures were down 6.3 percent, Standard & Poor's 500 futures were off 6.6 percent and Nasdaq 100 futures were down 6.8 percent.

All three contracts lost the maximum amount permissible before the start of futures trading in the United States.

Both the New York Stock Exchange and Nasdaq said trading would open as normal at 9:30 a.m EDT.

http://www.reuters.com/article/topNews/idUSTRE49B3PW20081024

[HughMoran]

1. Nooo

:cry:

[NNN0LHI]

2. Perhaps it might be best just to not open the Market today?

[dipsydoodle]

3. Looks like its going to be an exciting day

for want of a better expression. Think I'll go shopping. When the going gets tough........

[tekisui]

4. I think I might cash my check and buy some stock when the DOW

hits below 8,000.

Just have to figure out what....

[dipsydoodle]

6. I actually meant

for jam doughnuts and that's not for solace. This is the chickens truly coming home to roost.

[louis c]

7. Wait till Monday. It will be 6,000

[tekisui]

8. .

:thumbsup:

I just read that it could go there.

[JCMach1]

5. At one point Tokyo was down 10%

Europe Currently down 7-8% across the board Asia 8-10%

[Warren Stupidity]

9. Ruh-roh. Searching for a new floor this morning we will be. nt.