Looks like the world mkts are crashing due to the fears of the US recession and continuous negative data flow. There has been sustained selling in the markets worldwide for the whole of last week, and things are not changing one bit.
Chk out CNN Money IHT Bloomberg to get an idea of how red ticks are dominating the indices, everywherebe it US Europe or Asia. Looks like decoupling of Asian mkts which was touted as a big plus is dead and done with.
Back home in India, Today the mkt is going through one of its biggest ever crashes, nosediving 1200 points close to its cooling off circuits, due to panic selling and margin calls and squaring of positions and liquidation of assets.
Chk out Rediff Money
I expect the valuation in the Property mkt in India which i think are getting stretched, to now start correcting to reasonable levels, as the big reason for the sudden jump or revaluation was the Sensex boom and tech and Call center incomes.