Stock Market Crash August 2011

Almost £50bn was wiped off the value of Britain's 100 biggest companies on a day of global stock market crash triggered by a deepening of the eurozone crisis and fears for the US economy.After a day of massive stock market falls in Europe and the US of a kind not seen since the depths of the last economic downturn, traders said the atmosphere was reminiscent of the banking crisis of October 2008. Wall Street endured one of its worst days since the height of that crisis, with the Dow Jones Industrial Index closing more than 500 points or 4.3% lower at 11,383 in heavy volume, as it resumed a two-week streak interrupted only briefly on Wednesday. It was the biggest single-day loss since 2008.

Bank of America stock is down almost 50 percent so far this year. Overall, the S&P financial sector is down more than 23 percent in 2011 so far.The UK  market regained some composure after another indian stock market tips panic-driven slump on the open this morning was turned around by hopes that the U.S. authorities will step in to rescue the world's largest economyInstead of planning ahead we end up buying our foreign currency in our lunch hour the day before we travel. However, with some forward thinking we can capitalise on the best foreign currency exchange rates and find an alternative to carrying cash in our wallet. Read our guide to travel money and foreign currency so you know what your options are and how to capitalise on them.

whats going to happen when the NYSE opens later. Most stock market crash august 2011 are driven by panic selling and if the eastern markets are anything to go buy, then we should see a wave of panic selling which may very well cause a dent in world wide economies.The global financial system is one huge mountain of leverage, risk and debt.  A collapse is inevitable.When you build a house of cards on a foundation of sand, you should not be surprised when it comes crashing down.