stock market madness! “financial apocalypse”! A running report by WEJB/NSU's Grand Rapids Anonymous

By GRA
sunday, august 4, 2024 at 9:34:00 p.m. edt

“japanese stock and bond markets overnight, setting stage for more big U.S. losses”

GRA: All that’s needed is a new oil-debilitating war in the mideast.

“(zh) friday, we predicted possible upheaval sunday night and we were right, because by deciding to hike rates into an economic showdown, the boj [bank of japan] – which as we noted last week ‘changed the rules’ again – has unleashed a financial apocalypse by creating a positive [how “positive”?!] feedback loop that culminates with a deflationary collapse of all assets (as the bank now goal seeks a surge in the yen and thus deflation and economic devastation) which has led to [sic] not only to the nikkei promptly entering a bear market from its all time high hit just 3 weeks ago and wiping out all of its year to day gains, not to mention collapsing 15% since last week’s boj meeting which we knew would be a disaster...

“... which has also just suffered its biggest two-day drop in history, surpassing black monday...

“... but also the halt of trading of both its peer, the topix...

“*circuit breaker triggered for topix index

“... as it too enters a bear market...

“*japan’s topix index falls 20% from july peak FALLS 20% FROM JULY PEAK

“... and the entire Japanese bond market:

“*circuit breaker triggered for japan govt bond futures

“meanwhile, among today’s freefalling stocks are such names as the iconic nintendo...

“*nasdaq 100 futures drop as much as 2%

“...and perhaps something more troubling, is that japan's megabanks are in freefall, starting with Mizuho...

“*Mizuho shares fall as much as 12%, most since march 2020 and ending with japan’s largest bank, its JPMorgan, if you will, which just plunged the most on record!”

GRA: Quite the prospect for monday in the U.S. and europe. Can the japs do anything to reverse their bank selling? These things usually don’t last too long, but while they’re happening, the losses are quick and staggering.

--GRA