Stocks in Asia continued their downward spiral today amid the widening fallout from the United States’ subprime mortgage crisis. The decline was led by shares in South Korea, as local investors returned from a national holiday there and joined the stampede by foreign investors trying to sell. Across Europe, markets were also sustaining heavy losses in early trading.
And markets in the United States were expected to open lower again today. Stock index futures fell sharply following the latest sign that the Federal Reserve is reluctant to cut rates in the midst of the markets’ turbulence, Reuters reported. “It’s a kind of a panic among individual investors,” said Cho Hong Rae, head of research at Korea Investment & Securities in Seoul, adding that domestic retail investors had up until today generally been buying shares as they declined.....more
And it goes on, and on, and on....
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
