Black Friday engulfs the world as financial crisis spirals
source: http://www.bild.de/BILD/news/bild-english/world-news/2008/10/10/today-could-be-black-friday-...
-
-
- regisb
- added this
Today is threatening to turn into Black Friday as stock exchanges across the world plunge in value amid the worsening global financial crisis.
The German DAX stock index was among those worst affected, as it opened 8.5% down today.
Similar losses were recorded in Japan, where the Nikkei the stock exchange in Tokyo opened at a new low following a day of heavy losses on Wall Street.
It dropped more than 9% to its third lowest level ever. At the end of business, the value of 226 stocks had dropped 881.06 points or 9.62% and was heading into the long weekend at 8276.43 points.
The Tokyo exchange is closed on Monday, a public holiday in Japan. The TOPIX (Tokyo Stock Price) made up for the poor performance in the markets by increasing 64.25 points or 7.09% to 840.86.
In New York, the Dow Jones Index endured a torried time yesterday. It initially went up but soon sank 680 points to 8579 points, a drop of 7.3% - the biggest in more than five years.
Against this backdrop, G7 finance ministers and banking heads are preparing to meet in Washington. The market remains sceptical. “Investors are not so sure that the G7 will announce effective measures to contain the global financial crisis," said senior strategist Yukata Miura at Shinko Securities Co. Ltd. in Tokyo.
The German DAX stock index was among those worst affected, as it opened 8.5% down today.
Similar losses were recorded in Japan, where the Nikkei the stock exchange in Tokyo opened at a new low following a day of heavy losses on Wall Street.
It dropped more than 9% to its third lowest level ever. At the end of business, the value of 226 stocks had dropped 881.06 points or 9.62% and was heading into the long weekend at 8276.43 points.
The Tokyo exchange is closed on Monday, a public holiday in Japan. The TOPIX (Tokyo Stock Price) made up for the poor performance in the markets by increasing 64.25 points or 7.09% to 840.86.
In New York, the Dow Jones Index endured a torried time yesterday. It initially went up but soon sank 680 points to 8579 points, a drop of 7.3% - the biggest in more than five years.
Against this backdrop, G7 finance ministers and banking heads are preparing to meet in Washington. The market remains sceptical. “Investors are not so sure that the G7 will announce effective measures to contain the global financial crisis," said senior strategist Yukata Miura at Shinko Securities Co. Ltd. in Tokyo.
-
- groups:
- Community, News and Politics
-
- tags:
- News, News and Politics, Current, Business, 7 more
more from Community:
from the community
-
1
-
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
- more
