Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


NEWSFLASH: Global Financial Meltdown Imminent?

At the beginning of the first week following the terror attacks in New York and Washington D.C. stock markets in the Asia Pacific region have opened in a woeful state – perhaps indicating a global financial collapse is in the air.

At 2pm this afternoon the NZSE40 was down 82 points, or 4.5%, plugging depths last seen at the height of the Asian Economic Crisis in October 1998. Prior to that you need to go back to 1993 before you have seen such weakness in NZ stocks.

Air New Zealand’s share price - hit with the double whammy of its own internal problems - and the growing global security crisis is presently down 40% at 30 cents a share.

Other Asia-Pacific markets are similarly running scared.

Australia’s market is down 3.6%, Japan’s 5.3%, Singapore’s 4.8% and Taiwan’s 4.5% (See… http://quote.yahoo.com/m2 for live prices).

The US Dollar meanwhile has also been taking a battering falling to 117 yen and 0.926 Euro (See.. http://quote.yahoo.com/m3?u for live currency cross rates).

Somewhat surprisingly the Kiwi dollar has not been a beneficiary of US Dollar weakness and is currently trading at 41.78 US cents, off 0.6 US Cents for the day. The Kiwi has also fallen against the Australian Dollar and on a TWI basis is trading at just under 49.

Meanwhile crude oil prices are just a fraction under the US30 dollars a barrel mark up more than $1 dollar a barrel (See… http://www.bloomberg.com/energy/ for live prices).

On the flight to safety side of the ledger the gold price is presently up $3 so far today at $289USD an ounce, back at the top of the immediate post WTC crash price spike (See.. http://www.imdtrading.com/gold_prices.htm for live prices).

US’s market setting markets have been closed since the tragic events last Tuesday (New York Time – Wednesday NZT) and will be opening early tomorrow morning New Zealand time.

Before then the European markets are due to open this evening NZT and may provide some indication of how New York is likely to open after its longest break in trading since World War One.

(Continuing…)

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Living With Rio’s Olympic Ruins

Mariana Cavalcanti Critics of the Olympic project can point a discernible pattern in the delivery of Olympics-related urban interventions: the belated but rushed inaugurations of faulty and/or unfinished infrastructures... More>>

Live Blog On Now: Open Source//Open Society Conference

The second annual Open Source Open Society Conference is a 2 day event taking place on 22-23 August 2016 at Michael Fowler Centre in Wellington… Scoop is hosting a live blog summarising the key points of this exciting conference. More>>

ALSO:

Buildup:

Gordon Campbell: On The Politicising Of The War On Drugs In Sport

It hasn’t been much fun at all to see how “war on drugs in sport” has become a proxy version of the Cold War, fixated on Russia. This weekend’s banning of the Russian long jumper Darya Klishina took that fixation to fresh extremes. More>>

ALSO:

Binoy Kampmark: Kevin Rudd’s Failed UN Secretary General Bid

Few sights are sadder in international diplomacy than seeing an aging figure desperate for honours. In a desperate effort to net them, he scurries around, cultivating, prodding, wishing to be noted. Finally, such an honour is netted, in all likelihood just to shut that overly keen individual up. More>>

Open Source / Open Society: The Scoop Foundation - An Open Model For NZ Media

Access to accurate, relevant and timely information is a crucial aspect of an open and transparent society. However, in our digital society information is in a state of flux with every aspect of its creation, delivery and consumption undergoing profound redefinition... More>>

Keeping Out The Vote: Gordon Campbell On The US Elections

I’ll focus here on just two ways that dis-enfranchisement is currently occurring in the US: (a) by the rigging of the boundary lines for voter districts and (b) by demanding elaborate photo IDs before people are allowed to cast their vote. More>>

Ramzy Baroud: Being Black Palestinian - Solidarity As A Welcome Pathology

It should come as no surprise that the loudest international solidarity that accompanied the continued spate of the killing of Black Americans comes from Palestine; that books have already been written and published by Palestinians about the plight of their Black brethren. In fact, that solidarity is mutual. More>>

ALSO:


Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news