Japan stocks drop

Wall Street’s continuing sell-off sent Asian stocks plunging today.

“Selling is unstoppable in New York and Tokyo,” Yutaka Miura, senior strategist at Shinko Securities Co. Ltd. in Tokyo, told The Associated Press. “Investors were gripped by fear.” READ MORE ON ASIAN MARKETS HERE.

Thursday, the Dow fell below 9,000, the lowest in five years, on continued uncertainty in the global financial markets capped off by a plunge in GM shares, which closed at levels not seen since 1950. The other indexes also saw major drops. CLICK HERE to read AP’s story.

In other meltdown news:

• O.C. firm getting slice of of bailout billions
• VOTE: ‘Did media miss the financial crisis?’
• US government may take ownership stakes in banks
• Wall Street opens higher a day after heavy selling
• European markets rebound ahead of Wall Street open
• Traders look for direction on oil market
• Russian markets climb sharply
• Iceland suspends stock trading, creates new bank
• 3 Asian central banks slash interest rates
• Yet another AIG subsidiary parties hearty days after bailout
• AIG gets $37.8 billion more — after St. Regis party
• O.C. economist: Time to start buying good stocks
• Prez didn’t push for bailout so execs could get facials
• Credit expert: Fed rate cut won’t help consumers

Posted in: Meltdown |

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