Australian share market biggest fall

asxThe Australian share market drop again to its biggest fall in more than 18 years yesterday. More than $104 billion was gone after panic selling. It is the biggest 1 day loss since October 16 1989, according to Commsec, which  had a problem with server crash yesterday morning for about 20 minutes due to the excessive number of investors trying to sell or buy stocks. I actually got account with commsec as well, and i thought the problem is because of the Website update, but apparently they did have a crash with their server, which is actually something shouldn’t be happened to such a big and reputable company like commsec.

dont panicThe fears of a US recession sparked a contagion that spread from Europe to Asia, causing the australian share market to drop again for a 12th straight trading day. The Australian Federal Treasurer, Wayne Swan, told investors to calm down, DON’T PANIC. But the thing is when you hold a lot of stocks which dropped up to 25%, will you be not panic? I would like to hear from you guys, what you gonna do on this stage? do nothing, sell every stocks you got or even buy more stocks?

January 22, 2008 | Filed Under Business 

Comments

One Response to “Australian share market biggest fall”

  1. forex on March 19th, 2008 9:42 pm

    oh man… i’ve lost so far 30%. Its really a nightmare…:(

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