Thailand Stock Market Plummets

Tuesday was the worst day ever for the Thailand stock market:

The Stock Exchange of Thailand's benchmark SET Index plunged as much 19.5 percent before recovering to close at 622.14, down 14.8 percent, and the lowest since October 2004.

AP has the story here. The Thai government has now backed off the measure that caused droves of foreigners to sell-off Thai and other Asian stocks. Bangkok Pundit speculates as to whether in-the-know Thais may have sought to profit from the massive sell off.