Stock market plunge!!!

The Dow fall to more than 9-month lows on Citigroup's(C, Fortune 500) almost $10 billion loss and a weak Dec. retail sales report. Intel earnings and forecast disappoint after the bell.

This is enough to stir another global equity market sell-off on Wednesday on fears of a U.S recession

Hong Kong's Hang Seng index fell 1,386.96 points (5.4 per cent) - its worst day since September 2001 - as the territory's banking sector tumbled following damage to US rivals from subprime and credit market-related writedowns.

Tokyo's Nikkei 225 Average fell 468.12 points (3.4 per cent) to a two-year low as export stocks fell on intensifying fears of weaker demand from the US.The dollar fell 0.6 per cent to Y106.10 against the yen, its weakest level since May 2005.

The recent rally in the gold price, which saw the price climb to an historic level of $914.20 an ounce, ended as investors booked profits. The precious metal tumbled to $884.55, having ended the session in New York at $901.
Concerns about an impending recession in the US also sent oil prices to a three-week low. The Brent crude contract for February, which is due to expire today, fell $1.23 or 1.4 per cent to $89.75. The Nymex February contract declined $1.09 cents to $90.81 in after-hours trading.

Tracking the Dow One-year Chart.

The current disastrous dow index has completed its 2nd subprime rout back to what took place at the end of August'07.

We are two more days to the Dow index futures expiry.(Friday)

Volatility and short-covering will be forseeable within the matching line.

See how good those market-makers are able to manipulate right up to the even level using a review of subprime woes to scare the markets again even though the projections of poor corporate earnings are already known well ahead before all these bad news announcement.These bankers are holding the joker cards so market players sould be resilient with their tricks.