Reply #24: The current buzz is that the Bank of China is expected to announce a write-down of $7.95 billion [View All]

[Lone_Star_Dem]

It's in relation to subprime exposure in the US. This fueled some of the panic selling that caused these drops in Asia and Europe.

Right now there are investors across the world looking to the US to see how they plan to clean up the mess their economy just made on aisle 5.

One thing you can be sure of is there's a crew of economic janitors who will be working overtime tonight. I just hope they have plenty of buckets 'cause this credit crisis is leaking everywhere.

No matter what Asian and European markets do in their next session, this isn't over yet. Not by a long shot.