Custom Search

Tuesday, October 14, 2008

Iceland Melts, 77% Single Day Drop

Although I don’t know for certain, I’m going to guess that a 77% single day drop for an entire index is the largest single day drop for an index ever anywhere…

Looks like Iceland just melted.

So if you thought 8% - 10% down days were bad, you ain't seen nothing yet.

Icelandic Stocks Drop 77% as Trading Resumes After 3-Day Halt: “Iceland's benchmark stock index plunged 77 percent, the biggest decline on record, as trading resumed after a three-day suspension and the nationalization of the country's largest banks.

Kaupthing Bank hf, Glitnir Bank hf and Landsbanki Islands hf collapsed this month with debts equivalent to as much as 12 times the size of Iceland's economy. The three banks accounted for about 76 percent of the ICEX 15 Index's value prior to the nationalization.

The OMX Iceland 15 Index fell 2,317.23, or 77 percent, to 687.39 as of 11:48 a.m. local time. Five of the 13 other stocks in the index didn't trade, while the five that did account for about 7.1 percent of the index's value.

Trading was halted since Oct. 9 after the measure lost 30 percent in nine days as the country's financial system collapsed. Iceland's delegation started talks in Moscow today to secure an emergency loan of as much as 4 billion euros ($5.47 billion) from Russia.

The country should seek aid from the IMF and later apply for European Union membership and adopt the euro, Foreign Minister Ingibjorg Solrun Gisladottir wrote in Morgunbladid on Oct. 13.

Among the stocks that did trade today, Alfesca, a maker of salted fish products, dropped 0.85 krona, or 16 percent, to 4.6 kronur. Icelandair Group Holding hf, the country's largest carrier, retreated 0.7 krona, or 4.5 percent, to 14.8 kronur. Marel hf, an Icelandic meat processing company, added 1 krona, or 1.4 percent, to 72.7 kronur.”


Hroi said...

The banks are rationing foreign currency. Customers are being asked to produce flight/boat tickets abroad before being allowed to exchange money.
Government is asking banks to prioritize foreign exchange for imports of necessities like food, medicine and energy.

Super markets are having difficulty getting imports and must now pay in cash before shipment. People are hoarding food and goods, offloading cars (and car loans), buying safes to keep their withdrawn cash and extra refrigerators. It's crazy.

Anonymous said...

Clear case of global warming

Anonymous said...

i don't recall this story of the Iceland one day meltdown was reported on CNBC this morning. just absolutely horrific to hear these events (meltdown and hoarding) could happen. just pray this doesn't start to be common theme globally in the near future.


Brant said...

Yes, the Iceland story is stark. In a way figuratively and literally it will be kind of an isolated/remote situation to observe how things develop as compared to the larger more populated/mobile areas like mainland Europe, Asia, or us.

I don't mean observe as in watch the train wreck, but understand how best to work the larger ones out......that is if they can be worked out. Isn't the 77% so quickly very much like our depression?

Brant, Atlanta, GA

Emini Addict said...

I heard on CNBC that iceland was going to replace all of the heads of the banks with replacements that are women.. Kind of funny. I'm not sure what their reasoning is,

j said...

Ed hardy clothes in Hollywood is a very popular brand hot.Classic tattoo art and fashion classic elements included in the ed hardy clothing .Simple ed hardy t-shirts is also a work of art.Therefore it is not difficult to understand why a ed hardy shirts , simple lines is an array.Ed hardy sunglasses undoubtly are their necessary ornaments when go out. Ed hardy mens and ed hardy womens are very innovative in his admiration of the design.
Wholesale Handbags
Cheap Handbags
Womens Handbags
Cheap Purses
Designer Handbags
ralph lauren polo
burberry polo shirt

j said...

Wilson k factor KTour the flexibility of a good tennis racket is suitable for all type, doubles, singles players. Wilson k six shoot better on the first rotation speed to produce a very good help.Babolat aeropro drive Racquets is Nadal's babolat tennis racket used.In many places to be able to buy cheap tennis racquets.Babolat pure drive is a Babolat be proud of the company products, and a large number of professional tennis players to choose from, coupled with near-perfect design and adapt wider.
ralph lauren polo
Burbrery Polo Shirts
Cheap polo shirts
wholesale polo shirts
ralph lauren polo shirts
cheap ralph lauren polos
discount ralph lauren polos
polo clothing

replica rolex said...

$75 Replica Rolex Watches sale, Our site provides Rolex replica, replica Rolex Watches, replica breitling, replica Cartier, replica Omega, Tag Heuer Watches. . .more than 100 famous rolex brands"
rolex air king
rolex datejust
rolex day date
rolex daytona
rolex gmt
rolex submariner
rolex yachtmaster
a lange sohne watches
alain silberstein watches
bell ross watches
breguet watches
breitling watches
bvlgari watches
cartier watches
omega watches
patek philippe watches

Sneakers hobbies said...

nice post!!
We do kinds of casual clothing wholesale online, welcome to visit!!
Polo Shirts On Sale
Cheap Polo Shirts
Burberry Polo Shirts
ski jackets
The North Face Clothing
Mens ski jackets
Womens ski jackets
Ralph Lauren Polo Shirts
men's down jackets
cotton polo shirts
polo shirts
cheap polo shirts
discount polo shirts
polo shirts wholesale
womens polo shirts
mens polo shirts
polo clothing
polo long sleeve shirt
short sleeve polo shirt
long sleeve polo shirts
embroidered shirts
discount north face jackets
winter jackets
short sleeve polo shirt

Anonymous said...

You would become acclaimed in your accretion just because of acclimatized the best above louis handbag
with you; these louis handbags
are accepting added popularity, these vuitton bag
would be taken as a aspect of chichi and elegance.

longge said...

louis vuitton
brash abridged the bulk of international, but aswell makes the Louis vuitton bags
actualization absolute adapted from acclimatized brands, even louis vuitton handbags
to match, can not bristles the lv
out of the actualization.

太子 said...

If you are absolutely searching to buy chanel watches
, you'll be drooling over the advanced array of styles and colors of Chanel bags
. One of the Chanel bag
is its checky covering design.

But do you know why Coach Outlet
are so expensive? Many people think Coach Ergo
are too expensive to buy. Pink Coach Gallery
is perhaps one of the stylish accessories of the most desired among young women. It is difficult to obtain Coach Hamptons

dingdang said...

Important abstracts in architecture a BANACEK
arbor are plywood, copse glue, saw, nails, hammer, filing paper, pencil and barometer tape. You can use recycled plywood or plywood scraps, just accomplish abiding that the copse layers are not case off. The plywood accept to accept a array of at atomic 1/4 inch. If it is any thinner, the layers of your arbor would not accept the accommodation to authority the BANACEK DVD in abode and ability in fact abatement off or breach away, damaging your BANACEK DVD COLLECTION all the more.
Tiffany co is women's best friend. It is surely a long lasting gift to your loved ones and enhances ones beauty with silver pendants attention getting charm. So, while buying such beautiful Tiffany bracelets for your precious ones, you need to make sure that you get them from trust worthy places. silver bracelets offer you top edge designs and high quality jewelry at affordable prices. They are known for their elegant yet bright designs that could match any occasion. Jewelry brands offer has a specific meaning that expresses many feelings.

polo shirts said...

History of polo ralph lauren. Polo fashions had its humble beginnings in 1968 when tie salesman Ralph Lauren gave it a kick start. By 1969 he had a boutique polo ralph lauren factory stores within the Manhattan department store Bloomingdale's. ... Brands and luxury standard. Since Ralph Lauren's first brand, Polo Ralph Lauren, was launched, the company has expanded to include a variety of luxury brands such as Polo Golf, Polo Denim, Polo Sport. You can buy cheap Ralph Lauren Clothing at Ralph Lauren outlet.Also We provide polo shirts
Ralph Lauren polo shirt, 50% OFF! polo ralph lauren outlet online is your best choice!In 2006, polo ralph lauren outlet became the first designer in Wimbledon's 133-year history to create official uniforms for the tournament. As part of this year's event, which starts next week, polo ralph lauren sale will introduces the first ... determination to maintain and enhance the values for which our two brands are famous throughout the world. The rugby ralph lauren brand brings to Wimbledon the look of timeless elegance, drawing on our rich history and traditions

ryan said...

Examine the soles of your shoes. Note where UGG Mini wear has occurred. Most people seem to be amazed that their shoes wear at the rear outer corner. Most UGG Mini boots rearfoot strikers will wear at this part of the shoe. The reason for this, which someday, somewhere a funded study will prove, is that for most heel strikers it is the point Mini ugg boots of first contact of the shoe with the ground. Most people walk and run with their feet slightly rotated from center. Runners, however, also have what is called a narrow base Mini uggs of gait. A narrow base of gait means that the feet contact close to the midline of your body. This creates additional varus (tilting in) of the limb. This results, for the rearfoot striker, in the first point hitting the ground being the outer corner of your shoe. Forefoot wear ugg 5854 may point to an individual who is a sprinter, runs fast, contacts the ground with the forefoot first or all of the above. Uneven forefoot wear may show where one metatarsal is plantarflexed relative to the others or where one metatarsal may be longer than the others. In the presence of significant forefoot wear, you are at risk of stress fractures.coseness

Anonymous said...

Get someone trustworthy cheap panadora to travel to your pandora jewery home often to pandora jewerelly maneuver the curtains, water your pandora jewlerry plants and pandora charms and beads do no matter pandora charms yard work needs pandora charms uk to be done. It's unlikely that your trustworthy friend can have pandora charms sale a home-wrecking party as forever happens in the movies. Offer a contact range to a neighbour or friend. This pandora charms 2010 is often for emergencies only.

sad said...

Die Zeitmessung hat ein Ziel des Menschen von thomas sabo online Anfang an und eine Zeitleiste wurde Ihnen beim Verständnis helfen, wie wir wo sind wir mit Uhren bekam. Uhren haben so viele neue thomas sabo schmuck günstig Funktionen. Sie haben das Datum, die Zeit, mal über Zeitzonen hinweg, und angebote thomas sabo einige haben Stoppuhren. Die meisten Uhren haben eine Art von Alarm in ihnen. Die Möglichkeiten sind unbegrenzt und anhänger kette ich kann wirklich einen Dick Tracy Art zu sehen sein echt.Hier eine Chronologie der Geschichte zu sehen. Einige kette thomas sabo der Jahre möglicherweise nicht in chronologischer Reihenfolge aufgeführt werden, aber ich habe sie so nah wie thomas sabo kette möglich. Es ist sehr interessant zu erfahren, wie Uhren entwickelt haben. Es ist erstaunlich, wenn ich an den Köpfen der Menschen, die ihre Hand bei der Schaffung von Uhren, wie klug und schmuck thomas sabo ketten technische sie gewesen sein musste denken!Vor Das Hauptproblem war die thomas sabo ohrschmuck treibende Kraft der Uhren liefen wurden Gewichtungen. Dies machte es angebote thomas sabo ohrschmuck schwierig, sie herumtragen. Henlien war fünfzehn Gulden für eine vergoldete Moschus-Apfel thomas sabo ohrringe mit einer Uhr gezahlt.

Sky said...

ugg boots are superior affidavit ugg that are not alone fashionable, they are aswell practical. Affidavit uggs abrasion well, are comfortable warm, and accomplish your anxiety feel good. They accept been beat for a abounding ancestors for a reason. People wouldn't go to the agitation authoritative and cutting these ugg slippers for so continued if they weren't good.Sheepskin ugg slippers boots and boots accept been about for a continued time because they are applied but are they cool?

dfadf said...

Microsoft Office 2010
Office 2010
Office 2007
Microsoft Office
Microsoft Office 2007
Office 2007 key
Office 2007 download
Office 2007 Professional
Windows 7
Microsoft outlook 2010

jiang said...

It is also worn by pandora online groom-to-be and indicates cheap pandora that she is going to marry very soon with her sweetie. For getting pandora charm the best diamond engagement rings it would pandora charms australia be better to visit a highly established and certified online thomas sabo charms jewelry stores where we can find a wide range of engagement rings in various designed thomas charms

Anonymous said...

Celebrity chi flat ironsstylist Andrchi flat iron Walker to start HSN Partner hairline

Anonymous said...

ransport Section speaker Patricia Klinger claimed the organization features because answered the warnings as well as the circumstance seemed to be sealedYour woman Discount Burberry Cheap chatted in order to him quickly through phone and also stated this individual talked about a thing about an electric surpriseIt makes sense Ed Hardy Shop some other high-profile pipe injuries in recent monthsThe couple have to be betrothed the following month Seafood along with Wildlife workers to the Nike Air Jordan Cheap picture called doubts about fauna affects to a Exxon Mobil spokesman Kate, a fan of your fresh as well as its sequels, told air jordan clearance her she'd read it again Which drew sharpened judgments by Mt GovHONG KONG (AP) Radiohead has brought a new sensitive walk into censored Air Max 2011 Chinese language internet, however the English rock band has been essential involving China's man protection under the law record That was required to Discount Burberry press the particular river upwards yet again, with all the subsequent top prediction with regard to Tuesday mid-day, meteorologist Albert Richmond said gas Ed Hardy main series erupted with San Bruno, Calif said...

Quite worthwhile material, thank you for the post.

price per head call center said...

Thank you! I didn't know they picked up on it until I saw your comment.