• Site

  • About
  • Contact
  • Profit From Panic
  • What Would Jim Rogers Do?

• Panic Profit Articles

  • Peter Schiff Was Right - Almost
  • When Will the US Dollar Collapse?
  • Ten Reasons Why Gold Isn’t Above $1,000
  • Warren Buffet Has Lost His Mind!
  • Gloom, Boom and Doom Report

• Sheep & Wolves

• Financial

  • Euro Pacific Global

• Gold

  • Gold Money

• Real Estate Bubble Crash

  • Greater Fool

• Recommended

  • Greater Fool

• Stock Market

  • Euro Pacific Global
  • Horizon Beta Pro ETFs

Just when I thought it was safe to relocate my family to Iceland!

The beleaguered Icelandic stock exchange plummeted by 77 per cent yesterday, following a three-day suspension of trading.

The OMX Iceland 15 Index fell by 2,326.2 to 678.4 - the lowest since April 1996. The fall in shares contrasted sharply with a strong performance by European and Asian shares for the second consecutive day. The Icelandic index has lost 89 per cent of its value this year, making it the worst performing stock exchange globally.

Shares in six financial companies, including the now-government controlled Kaupthing, Landsbanki and Glitnir, remained suspended, as Iceland has been hit hard by the global financial crisis. Iceland has been forced to ask for help from Russia and the IMF to save its beleaguered economy. Trading in Icelandic shares was suspended on 9 October after the OMX Iceland lost 30 per cent of their value in nine days.

Icelandic stock market crashes on reopening - Business News, Business - The Independent

Comments

• Blogroll

  • Euro Pacific Global - Peter Schiff Author and Investment Advisory & Specialty Brokerage
  • Gold Money - Great site to buy gold and open gold based virtual account
  • Greater Fool - Real estate bubble crash coverage by a Canadian politician
  • Horizon Beta Pro ETFs - Canadian TSE Exchange Traded Funds Index