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A down open but looks like the early openers are considering a rebound: Kiwis -3%, Aussies -1.5%, Nikkers -1.2% and Sth Korea -0.5%.

 

In Aussie sectors REITS -2.3%, Healthcare -2.1% and Consumer Staples -1.7% are downside leaders with Telecoms and IT the least affected.

 

 

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w?s=%5EAORD

 

 

Buyers around in the morning but they were overwhelmed by steady selling in the arvo. All Ords finished -2.7% and is sitting on somewhat tenuous support. We're now halfway to the 2009 lows.

 

In the sectors Miners and Materials took the brunt, -3.7% and -3.6% followed by REITS -3.1% and at the other end IT had a relatively minor loss of -0.8%.

 

Heavy losses in Asia: Singers -4.6%, Sth Korea, Taiwan and Honkers -3.8%, China -3.7%, India -2.4% and Nikkers -2.2%.

 

 

Let's see what UK/Europe dishes up:

 

 

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Downgrade? What downgrade? Yawn.

 

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There won't be a real downgrade (ie one that triggers forced selling) until a second agency of the big three chops the AAA rating.

 

And until that happens the rules can be bent to introduce a 4th agency like in U rope...

 

 

I got a news flash for ya'all

 

The USA is either AAA or D

 

Any rating in between is nonsense

 

...and don't be surprised if a top rating agency official turns up doing the "Matt Simmons"

 

Black Ops -- over & out

 

We'll never know if it was Berlusconi or Obama... :ninja:

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