Stock market up-date - the day when the bottom flied off for the Dow.

The main markets around the world are still on the falling mode and whoever buy now is like trying to catch a falling sword with their hands. By the close for US Dow, it has dropped by another record 678.9 points to 8500 points and this is the lowest level in 5 yrs. Whatever the Fed does....it only make the whole situation worse. If this continue....all the people will be out of job soon becoz most businesses will fold-up. The government will not be able to save every company and hence jobs. The worst is still ahead of us....by the look of things. My thinking is that until the election in the US between McCain and Obama is over...whatever Bush does, the situation will bounce back worst.

So ...best to watch and see. To me....the bottom is not far away now. No point...rushing until the main markets eg US, UK, Japan, China and EU has stabilised and started to move upwards. Now it is still not the time...as markets are still not stable. The "yo-yo" impact is still wide and painful if bet wrongly.

With all the bailouts from even the UK and EU governments doing their best to stop the "rot", the rot still set in and eat away the price and valve of the shares. Just one way ticket..."south".
Already the market has lossed more than US$2 trillion and more just in US alone...the markets elsewhere must really be "hurted" too. The impact...is totally unexpected by the world leaders.
Funny is that...this happen between 1 yr. Last year this time...the market touched the biggest capitalisation in history....while now, we are in the pits up to the skin of our teeth caused by the falling price of stock. Even a cut in interest rate by the top G7 countries and China have not help much to stop the meltdown. And the worst of all....this is the situation is getting critical by the day.