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Wednesday, June 11, 2008
Asian markets tumble
Asian markets are following the big declines in the US. Hong Kong, China, Japan, Korea & Australia are down, typically 2%. Their banks & financials are being hit especially hard. Oil is down 1 to 135, they are also very sensitive to oil prices. Shanghai fell below the important 3K level, down over 50% from the peak just 8 months ago. The early signals for NY markets tomorrow are not encouraging.