please explain

  1. 2,382 Posts.
    so far we have the following moves on Global Markets in 07-08:

    Down down 11.6% from its peak
    S&P500 down 13.4% from its peak
    NASDAQ down 17.6% from its peak
    FTSE 100 down 11.5% from its peak
    Nikkei 225 down 29.25% from its peak
    All Ords down 19.8% from its peak

    given that the credit crisis was caused by the US and affecting them the most you would think that the US markets would be affected the most, however it appears as though the Asian markets including Australia have been hammered the most. whats more interesting is that we have 3 big resource companies that dominate the ASX and given we are in the middle of a commodity boom the above figures are very interesting.

    if we take out BHP, RIO and WPL the market in Australia would be really smashed, ie probably down 30%. for a crisis that was caused and is affecting the US the most surely our market selloff must be overdone?
 
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