Thursday, November 13, 2008

While You Were Sleeping

From Bloomberg:

Russia's Micex Index fell as much as 17 percent and was 7.5 percent lower at 12:15 p.m. in Moscow after it reopened following a 30-minute trading suspension. A court in Kuwait ordered a shutdown as traders lobbied for support after a sixth day of declines. The MSCI Emerging Markets Index slid 3.1 percent, adding to an 8.5 percent drop since Nov. 11.

More than $29 trillion has been erased from the value of global equity markets as credit losses and writedowns totaled $949 billion in the worst financial crisis since the Great Depression.