Forum Archive Index - September 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

At this stage, the Dow is 9072 ( -5.55% ) and the Nasd. is 1609 ( -5.10 % ).

 

At an early stage , the Dow was down just over 600 points.

 

In my opinion, a downward movement could have been expected even if the NY exchange had remained open.

 

Prior to opening, there was a 0.5% rate cut and restrictions on buyback were relaxed.

 

A corresponding 0.5% rate cut in England, resulted in a fast rise of the footsie , up 143 points!  

 

Sofar, Australasia has managed to make maximum losses, percentage wise. I don't know the exact figure but it must have been close to 10% since the shutdown.

 

Part of this was due to the AIR/Ansett crisis but even so, at this stage, these losses seem to be exorbitant.

 

If NY holds and Brash comes up with a rate cut as well, then stocks should rise today!

 

A pity that Helen had to make a decision to revoke the Anzus treaty. Did Jim agree to that? A great pity that policy is being made without thinking through the implications, particularly the timing.

 

None of the parties has much international experience; why is there so much ignorance, a lack of penetrative thinking, and the mere desire to react, simply because it is easy?

 

Gerry