From BNO on Twitter:

All Asian/Pacific stocks down except New Zealand

^SSEC Shanghai Composite 3,019.39 2:00AM ET Down 75.02 (2.42%)

^HSI Hang Seng 20,109.33 3:01AM ET Down 489.22 (2.38%)

^BSESN BSE 30 16,780.46 Jan 25 Down 79.22 (0.47%)

^JKSE Jakarta Composite 2,578.42 4:00AM ET Down 19.44 (0.75%)

^KLSE KLSE Composite 1,283.02 3:50AM ET Down 13.77 (1.06%)

^N225 Nikkei 225 10,325.28 1:29AM ET Down 187.41 (1.78%)

^NZ50 NZSE 50 3,209.06 Jan 25 Up 20.41 (0.64%)

^STI Straits Times 2,740.33 4:10AM ET Down 71.38 (2.54%)

^KS11 Seoul Composite 1,637.34 4:03AM ET Down 32.86 (1.97%)

^TWII Taiwan Weighted 7,598.81 12:46AM ET Down 274.18 (3.48%)

Oh, good Lord!

Asian markets


^AORD All Ordinaries 4,530.30 Feb 4 .........................Down 113.80 (2.45%)
^SSEC Shanghai Composite 2,941.89 Feb 4 ...................Down 53.42 (1.78%)
^HSI Hang Seng 19,749.33 Feb 4 .......................................Down 592.31 (2.91%)
^BSESN BSE 30 15,868.52 11:53PM ET ..........................Down 356.43 (2.20%)
^JKSE Jakarta Composite 2,531.95 Feb 4 ...................Down 61.27 (2.36%)
^KLSE KLSE Composite 1,252.56 Feb 4 ...........................Down 12.47 (0.99%)
^N225 Nikkei 225 10,091.41 11:43PM ET .............................Down 264.57 (2.55%)
^NZ50 NZSE 50 3,104.99 Feb 4 ..................................Down 43.95 (1.40%)
^STI Straits Times 2,691.42 12:03AM ET .............................Down 53.56 (1.95%)
^KS11 Seoul Composite 1,564.16 11:43PM ET ......................Down 52.26 (3.23%)
^TWII Taiwan Weighted 7,231.77 11:43PM ET ..............Down 310.27 (4.11%)

from R A Greene at CNN via Twitter



from Bullfax.com


Europe ETFs Plunge on Debt Downgrades
marketmaker | Wed, 04/28/2010 - 02:39 in

ETF Database submits: The tiny European nation of Greece has had a huge impact on the global economy in 2010, as its budget deficit spiraled out of control until ultimately reaching unmanageable levels earlier this year. After last week’s announcement that Greece was going to tap an aid package from other euro zone members (as well as the IMF), many believed that the worst of the European sovereign debt crisis was nearing an end. However, fresh concerns earlier today in Europe rocked markets and sent shares plunging more than 4% across virtually all of Europe. Standard & Poor’s cut Greece’s rating to junk status (BB+) and slashed Portugal’s debt rating from A+ to A-, sending markets into a severe slump. This came after S&P said that it estimates Greece’s debt/GDP ratio will hit 124% in 2010 and 131% in 2011, while Portugal’s debt-to-GDP ratio will soar from 66% in 2008 to 95% in 2013.Complete Story »

http://www.bullfax.com/?q=node-europe-e ... downgrades

from Twitter "Breaking News"



and here's more:

World Markets Eye Berlin As Debt Crisis Escalates
PAN PYLAS, AP Business Writer
LONDON (AP) ― European stock markets clambered off day lows Tuesday amid hopes that key actors in the Greek debt drama will finally get their act together and provide the country even more funds than previously agreed to help it pay off creditors.

All eyes in the markets will be on upcoming press briefings in Berlin following meetings between German Chancellor Angela Merkel, International Monetary Fund managing director Dominique Strauss-Kahn and European Central Bank president Jean-Claude Trichet.

http://cbs5.com/wireapnational/Asian.st ... 60403.html


another look:

Stocks Wobble After Spain Debt Downgrade
Published: Wednesday, 28 Apr 2010 | 11:45 AM ET
By: Cindy Perman

Stocks bobbed in and out of negative territory Wednesday after the S&P downgraded its debt rating on Spain. This follows downgrades on Greece and Portugal, which sparked a selloff in the prior session.

Today's downgrade initially sent stocks lower but it wasn't the bloodbath of the prior session and the Dow and S&P actually moved back into positive territory. Helping to asuage the market's concerns were details of a bailout plan for Greece helped assuage the market's concerns.

And traders will be waiting to see what the Fed says, with a statement due out at 2:15pm ET today following a two-day policy meeting.

http://cbs5.com/wireapnational/Asian.st ... 60403.html

^AORD All Ordinaries 4,533.20 10:30PM EDT Down 65.40 (1.42%) Components, Chart, More

^SSEC Shanghai Composite 2,714.38 10:14PM EDT Down 25.32 (0.92%) Chart, More

^HSI Hang Seng 19,966.28 10:35PM EDT Down 167.13 (0.83%) Components, Chart, More

^BSESN BSE 30 16,987.53 6:30AM EDT 0.00 (0.00%) Chart, More

^JKSE Jakarta Composite 2,745.68 10:50PM EDT Down 64.93 (2.31%) Components, Chart, More

^KLSE KLSE Composite 1,322.30 10:50PM EDT Down 9.57 (0.72%) Chart, More

^N225 Nikkei 225 10,295.63 10:29PM EDT Down 400.06 (3.74%) Chart, More

^NZ50 NZSE 50 3,158.97 10:45PM EDT Down 121.38 (3.70%) Components, Chart, More

^STI Straits Times 2,816.83 10:46PM EDT Down 22.82 (0.80%) Components, Chart, More

^KS11 Seoul Composite 1,651.51 10:30PM EDT Down 33.20 (1.97%) Components, Chart, More

^TWII Taiwan Weighted 7,493.87 10:30PM EDT Down 85.61 (1.13%) Chart, More

http://finance.yahoo.com/intlindices?e=asia

ASIA

^AORD All Ordinaries 4,342.40 2:37AM EDT Down 71.90 (1.63%)

^SSEC Shanghai Composite 2,555.94 3:00AM EDT Down 31.87 (1.23%)

^HSI Hang Seng 19,545.83 4:01AM EDT Down 33.15 (0.17%)

^BSESN BSE 30 16,519.68 6:29AM EDT Up 111.19 (0.68%)

^JKSE Jakarta Composite 2,694.25 5:00AM EDT Down 35.24 (1.29%)

^KLSE KLSE Composite 1,304.16 4:50AM EDT Down 4.07 (0.31%)

^N225 Nikkei 225 10,030.31 2:29AM EDT Down 156.53 (1.54%)

^NZ50 NZSE 50 3,111.42 1:31AM EDT Down 10.46 (0.34%)

^STI Straits Times 2,753.51 5:10AM EDT Down 21.03 (0.76%)

^KS11 Seoul Composite 1,600.18 5:03AM EDT Down 29.90 (1.83%)

^TWII Taiwan Weighted 7,424.43 1:46AM EDT Down 134.73 (1.78%)


EUROPE

^ATX ATX 2,369.33 10:22AM EDT Down 77.16 (3.15%)

^BFX BEL-20 2,381.57 9:03AM EDT Down 51.28 (2.11%)

^FCHI CAC 40 3,410.61 9:03AM EDT Down 101.06 (2.88%)

^GDAXI DAX 5,825.71 10:11AM EDT Down 162.96 (2.72%)

^AEX AEX General 313.08 8:51AM EDT Down 8.37 (2.60%)

^OSEAX OSE All Share 386.02 10:11AM EDT Down 13.52 (3.38%)

^SMSI Madrid General

^OMXSPI Stockholm General 295.49 10:42AM EDT Down 9.68 (3.17%)

^SSMI Swiss Market 6,200.19 10:27AM EDT Down 174.24 (2.73%)

^FTSE FTSE 100 5,039.19 10:11AM EDT Down 118.89 (2.30%)

If you bookmark this post, these links update, so at any time, you will get current quotes here.

Here's the link to follow the Asian markets: http://finance.yahoo.com/intlindices?e=asia

Here's the link for Europe: http://finance.yahoo.com/intlindices?e=europe

The Nikkei closed down Down 245.77 (2.45%)

+World stocks hit by fears over US jobs, Hungary

Jun 7, 6:20 AM (ET)
By GREG KELLER

PARIS (AP) - World stock markets tumbled Monday and the euro hit a new four-year low in the wake of poor U.S. jobs figures and amid fresh fears that the debt crisis that began in Greece is spreading to Hungary.

The FTSE 100 index of leading British shares was down 1.2 percent at 5,066.77 while Germany's DAX slipped 0.8 percent to 5,889.71. The CAC-40 fell 1.3 percent to 3,410.93.

Oil was also buffeted, falling to near $70 a barrel, while Wall Street was poised to open lower - Dow futures shed 39 points to 9,907 while the broader Standard & Poor's 500 futures dropped 4.1 points to 1,062.

"The past week's data have added to concerns that strains in the region's periphery are spreading to broader economic activity," analysts at London-based Capital Economics said in a report. "Meanwhile, fears of a meltdown in the European banking system have grown," said Jennifer McKeown, Capital Economics' senior European economist.

The selling was sparked in Asia earlier Monday on fears that Europe's debt problems could spread after a Hungarian official said last week that the nation was at risk of a Greek-style fiscal crisis. The government met over the weekend and distanced itself from the comments.

The incident, however, shocked investors and pushed the euro to a fresh four-year low against the dollar. Hungary is part of the European Union, but keeps its national currency, the forint, which dropped around 5 percent last week.

"The problem seems like a cancerous thing - it's spreading from smaller country to smaller country, and many people are afraid that it will spread to a big country like France or Germany, although that's unlikely," said Jackson Wong, vice president at Tanrich Securities, in Hong Kong.

"We don't have major good news on the horizon. We still have crises down the road."

con.

http://apnews.myway.com/article/20100607/D9G6CFV00.html

Hat tip to Guanosphere who says:


Posted on 07/19/10 at 10:22pm by Cliff Wachtel


Greek Bond Sale

On Tuesday July 20th, EU sovereign credit concerns are again tested as Greece attempts another 1.5 billion euro auction of 13-week bills July 20th.

There is only a low probability of failure given close EU monitoring and support. A failed sovereign auction is the most likely cause of an EU crisis, and everyone knows it by now.

However, if the demand is somehow low OR rates continue to climb, markets could freak once again
EU Bank Stress Tests – Questions The EU Must Answer


Dangerous But Moderate – Medium Risk

There haven’t been so many key unanswered questions surrounding a key risk event since…. the first EU Greek rescue plans early this year.

Remember those?


The EU would spare no expense to save Greece – but no cash would be needed

A plan was in place – to make a plan at some point if needed, details to follow when needed (?)

There was an agreement… somewhat

The cash was ready…pending approval of the legislatures, courts, etc.

We hope the EU has learned its lesson and will leave no significant ambiguities this time. Still, the EU has resisted publication of these until now – a fact which is in itself troubling.

Here are just some of open questions the EU MUST answer if markets are to regain any trust in the EU banks and relieve the ECB of responsibility of sole lender

1. What specific criteria will be used to determine whether a bank has passed the stress test?
2. How clear are the definitions / classifications of different types of assets/liabilities, and what safeguards were in place to prevent misleading financial statement classification? The question is far from theoretical. In the US this past week, Citigroup revealed how they actively misrepresented their financial statements
3. How will the EU calm markets about the numerous regional banks that are not covered yet have the higher failure risk
4. Will there be detailed grades or a simple pass/fail? If not, will there be detailed notes to fill in the blanks?
5. If a bank fails the test, how long will it have to raise the funds, where it will come from, and what measures will be taken in the interim period to protect the bank, its depositors, investors, and creditors?
6. For sovereign bond holdings, by what amount should bonds of different governments be written down to account for default risk?
7. Is there a clear mapping of interbank exposure? That is, if one fails, what others are at risk.

There are other questions of course, like how badly rising rates would hurt their lending revenues, etc. Results are widely expected to paint a rosy picture, and EU officials have been uniformly confident, including the Spanish. This seems incongruous given that Spanish banks have been forced to rely so heavily on the ECB for short term funding

What To Do

Given the number of questions that remain outstanding at this time, both the results and market reaction to them, remain impossible to predict.

What we can do is make plans for each contingency.

con. below with technical analysis of markets and economies:

http://url4.eu/66Pmh

(Could this be the July 20th event the internets are talking about?) I guess I should let go of Bushisms now.....

Asian stock markets sink after US credit downgrade

Asian stocks nose-dived Monday as the first-ever downgrade of the U.S. government's credit rating jolted the global financial system, reinforcing fears that the world economy is weakening.

Oil prices extended recent sharp losses, trading below $84 a barrel on expectations that weaker global growth will crimp demand for crude. The dollar was lower against the yen and the euro.

Hong Kong's Hang Seng tumbled 3.8 percent to 20,145.82 and South Korea's Kospi was down 3.8 percent to 1,869.45 after briefly diving nearly 7 percent. Japan's Nikkei 225 stock average dropped 2.2 percent to 9,097.56.

Futures pointed to losses on Wall Street when it opens Monday. Dow futures were off 260 points, or 2.3 percent, at 11,142 and broader S&P 500 futures shed 31.30 points, or 2.6 percent, to 1,166.10.

"It's not Armaggedon, but it feels like it," said Hong Kong-based analyst Francis Lun,

con. http://news.yahoo.com/asian-stock-marke ... 30293.html

Hong Kong shares plunge to enter bear territory

HONG KONG (MarketWatch) -- Hong Kong shares crumbled early Tuesday, sending the benchmark indexes more than 6% lower in opening trades after a heavy toll on Wall Street overnight in the wake of Standard & Poor's downgrade of U.S. debt.

con

http://www.marketwatch.com/story/hong-k ... 2011-08-08

Tweets:

Hong Kong indexes down more than 6%, hitting 'bear' territory - MarketWatch http://bit.ly/r8TpHg

Japan's Nikkei index is down 3.7% in early trading Tuesday after falling 2% on Monday. Live blog continues: http://on.wsj.com/p3XrEc

Asia stocks fall after U.S. #stocks dive on.cnn.com/ocTCmG

Losses accelerating at Australian stock market; S&P/ASX200 index off 5% - Sydney MH http://bit.ly/n74js9

Asian markets slide on investor 'panic'
Fallout from US debt downgrade triggers 'market turbulence' across Asia, while driving gold to record highs.

Tokyo fell 3.34 per cent in the afternoon, Hong Kong lost 6.01 per cent by the break, Sydney shed two per cent and Seoul was 7.5 per cent down while Taipei was one percent down. Shanghai fell 1.10 per cent.

"It's a horrible place to be, dark days are upon us," Chris Weston, a trader with IG Markets, told the AFP news agency.

"How much further to fall is the question people are asking. People are trading on emotions at the moment rather than looking at the rational situation. There's widespread panic."

con. http://english.aljazeera.net/news/asia- ... terAccount

Banks in Asia review credit to French lenders

(Reuters) - One bank in Asia has cut credit lines to major French lenders while five other banks in Asia are reviewing trades and counterparty risk as worries about the exposure of French banks to peripheral euro zone debt mounts, banking sources told Reuters on Thursday.

Rumors on Wednesday that France was to lose its AAA rating, later denied by ratings agencies, helped trigger the biggest widening in the European credit default swap index since the credit crunch in 2008.

That sudden rise in risk perception, combined with sharp share price falls in French banks, prompted some banks in Asia to speed up reviews of counterparty risk and look at whether they should cut exposure to European lenders, sources at each of the six banks in Asia said.

Read more here: http://www.reuters.com/article/2011/08/11/us-crisis-asia-exposure-idUSTRE77A1Q620110811

Sacre bleu! Market has downgraded France

NEW YORK (CNNMoney) -- Standard and Poor's only downgraded the credit rating of the United States on Friday. But the financial markets have picked up where S&P left off and essentially decided to downgrade much of Europe too.

It appears that one of the unintended consequences of S&P's decision to cut the U.S. to AA+ from AAA is that investors have begun to question why nations like France, the United Kingdom and, to a much lesser extent, even uber-strong Germany should still have perfect credit ratings.

But it is France that is really feeling the brunt of the market's doubts right now.

Read more here: http://money.cnn.com/2011/08/11/markets/thebuzz/index.htm?source=cnn_bin&hpt=hp_bn3

All you see is RED

^GDAXI DAX 6,061.79 9:18AM EDT Down 202.59 (3.23%)

^FTSE FTSE 100 5,250.79 9:19AM EDT Down 70.07 (1.32%)

^OMXSPI Stockholm General 300.50 9:41AM EDT Down 6.58 (2.14%)

GD.AT Athex Composite Share Price Index 505.77 9:22AM EDT Down 19.68 (3.75%)

Just a few examples: watch them live HERE

On the Eastern front: (same link as above)

All are red except Shanghai.

^N225 Nikkei 225 8,440.25 2:28AM EDT Down 102.48 (1.20%)

^TWII Taiwan Weighted 7,106.09 1:33AM EDT Down 195.41 (2.68%)