Circuit Breaker on Korean Stock Exchange

Trading halted for 20 minutes on Kospi. That means it has dropped 10%. The Korean central bank is stepping in. It feels like a total panic in Asia.

Global sell-off continues.

Hang Seng down 1,500 points.
Nikkei down 390 points.

The consumer price rose by 6.5% in July in China, highest percentage rise in more than three years. In other words, a bad number for the market.

Riots spread all over the country in the UK.

Gold hit US$1,745, and hitting all-time high in other currencies. 1 ounce of gold is 1,225 euro, 134,536 Japanese yen, AU$1,736, 1,067 British pound.

Pandemonium.

It may continue, as my personal contra-indicator (a certain financial network owned by GE) is still trying to spin it positively and bottom-pick. Someone said Bank of America is a buy here.

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