Asian Markets Continue Slide

Annie

Diamond Member
Joined
Nov 22, 2003
Messages
50,848
Reaction score
4,826
Points
1,790
http://news.yahoo.com/s/ap/20070305/ap_on_bi_ge/world_markets

Asian markets plunge across board

By YURI KAGEYAMA, AP Business Writer 27 minutes ago

Markets in Asia and Europe fell again Monday, extending their slide into a second week as investors worried about a possible global slowdown dumped stocks that had surged in recent weeks.

Also sparking jitters was the yen's jump to a three-month high against the dollar as traders sold off higher-yielding investments funded by borrowing money at Japan's ultra-low interest rates. A decline in this so-called yen-carry trade could hurt global liquidity.

In Tokyo, the Nikkei 225 index fell for a fifth day, tumbling 575.68 points, or 3.34 percent, to 16,642.25 points, dragged down by major exporters such as Canon Inc., Sony Corp (NYSE:SNE - news). and Toyota Motor Corp., whose earnings are eroded by a stronger yen. Since reaching a nearly seven-year high last Monday, the Nikkei index has slid 8.64 percent.

Markets in Hong Kong, Australia, the Philippines, India and South Korea all fell sharply Monday, continuing their declines from last week, when a 9 percent plunge in Chinese stocks on Tuesday triggered a sell-off on Wall Street and other global markets.

European markets also opened lower Monday, with Britain's benchmark FTSE 100 down 1.5 percent in early trading, France's CAC 40 sliding 1.8 percent and Germany's DAX sinking 2.1 percent.

Australian markets — which had hit records last month — fell for a fifth day, sinking 2.3 percent. South Korea's benchmark index dropped 2.7 percent, Philippine stocks plunged 4.5 percent, and Indian stocks were down nearly 4 percent.

...
 

JeffWartman

Senior Member
Joined
Jul 13, 2006
Messages
1,309
Reaction score
102
Points
48
Location
Suburban Chicago
This just illustrates how closely tied each individual economy in the world are tied to each other. For example, when economic swings happen, they often happen globally, something many politicians ignore in this country so as to have an excuse to attack each other.
 

djones

Rookie
Joined
Mar 24, 2007
Messages
8
Reaction score
0
Points
1
Asian markets are doing well.
India facing inflation,& thus rate hike problem therefore a bit sluggish after
big boom.
 

Most reactions - Past 7 days

Forum List

Top