Asia Tumbles!

[Pauls' Revere]

http://news.yahoo.com/s/nm/20090120/...markets_global

The tumble came after Royal Bank of Scotland (RBS.L) on Monday unveiled the biggest loss in U.K. corporate history, and after Britain launched a second bank rescue plan that failed to restore confidence in the wobbly financial sector.

Sterling fell to its lowest in almost seven years and the euro dropped to a six-week low, while U.S. stock futures slumped, signaling a potentially tough day ahead for Wall Street.

Japan's Nikkei (.N225) dropped 3.1 percent. Indexes in Hong Kong (.HSI) and Australia (.AXJO) fell more than 3 percent, while markets in South Korea (.KS11), Taiwan (.TWII) and Singapore <.FTSTIL fell more than 2 percent each.

U.S. stock futures slid, with March S&P 500 futures down 13.1 points, or 1.5 percent. Dow Jones futures fell 1.3 percent.

Governments worldwide are grappling with how to get their banks lending again to revive economies, despite already injecting billions of dollars and implementing other measures such as backing some of their debt.

Oh boy what fun...glad im out.

[RideTheDirt]

http://uk.finance.yahoo.com/echarts?...urce=undefined

down 66.6%