asx dow subprime , page-2

Perhaps you need to find out how the markets work, and how they are global.

In short. Because of the credit crunch in the in the US, lots of US investors and US fundies are repatriating their money back home. (noticed how the US$ has gained and the rest of the global currencies have lost?).

Have you also noticed sudden spikes down in the local market? That's usually international selling.

From there it's just a matter of selling begets selling etc.

Luckily for us,(rest of world) the US is rapidly losing it's omnipotent power, but for somes years yet, the world will continue to be at the US's mercy.

Australian stocks are somewhat isolated by the global resource boom, and the fact that the Future Fund is out there with the rest of their $50b, rubbing it's hands, at the prospect of long term gains. In the short term, however, we'll have to bear more pain