Credit Contagion

Looks like the volatility has returned and no market has been spared. The Hang Seng is down 18% since hitting a high of 32000 last month. The Nikkei is down 16% from earlier this summer.

I'm starting to see the fear in the markets, but I'm waiting for the 'blood in the street' sign. It's amazing to see so much credit just evaporate. Easy come, easy go I guess.

Here's an article about China and Korea now being engulfed in the credit crunch contagion.

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=TXULD4CQHTUFDQFIQMFCFFOAVCBQYIV0?xml=/money/2007/11/21/bcnasia121.xml