Post by unlawflcombatnt on Aug 15, 2007 2:51:18 GMT -6
from Yahoo News:
Asian, European markets slide
By YURI KAGEYAMA, AP Business Writer
8/15/07 1:30 AM Pacific Time
"Asian and European shares dipped Wednesday as markets continued to battle jitters over a credit crunch started by problems in the U.S. subprime credit sector and as broader concerns emerged about the U.S. economy.
In Asia, Tokyo and New Zealand benchmarks tumbling to their lowest closes in nine months.
In Europe in early trade, the
U.K.'s FTSE 100 index fell 0.9 percent shortly after the market opened.
France's CAC 40 benchmark fell 1.21 percent...
Germany's DAX fell 0.8 percent....
The Nikkei 225 index...plummeted....2.19 percent, to 16,475.61, its lowest since Dec. 8 (2006) as financial issues got hammered by the nervousness about a fallout from the U.S. subprime mortgage crisis....
Worries have been growing about a slowdown in the U.S. economy, fueled by faltering profit forecasts by major retailers.
Weak American spending would be a blow to the Japanese and other Asian economies, which are all still heavily dependent on exports to the U.S.
In New Zealand, the...NZX-50 index slipped...1.5 percent...its lowest closing since December 2006.
"It's not a particularly pretty day for the market. World markets are....quite skittish," said UBS equities director Paul Nicolson in New Zealand....
Hong Kong's Hang Seng Index was down 3.0 percent and
Singapore's Straits Times Index was down....
The benchmark index in the
Philippines closed 4.1 percent lower and
Taiwan's Weighted Price Index fell 3.6 percent....
David Cohen, director of Asian forecasting at Action Economics in Singapore....warned more bad news could be expected about troubled hedge funds, which could set off another drop in regional stocks.
"It's going to be on a roller coaster for a little while. Clearly investors are nervous," he said....
fears remain about the future of the overall U.S. economy. On Tuesday, U.S. retailers announced lower profit forecasts, including Wal-Mart Stores Inc. and Home Depot Inc. A slowdown in the U.S. economy, a key export market for Asia, could spell a more real danger for the region.
Overnight in the U.S.,
the Dow shed 1.57 percent to 13,028.92, on the verge of falling below the psychologically important 13,000 mark, which it first crossed in late April.
Elsewhere in Asia on Wednesday,
Jakarta's main stock index was down 5.3 percent,
Australia's benchmark was down 3.0 percent, and
Thailand (declined) 2.2 percent...."
Everything in Europe and Asia has declined so far on Wednesday, July 15th, 2007.
Asian, European markets slide
By YURI KAGEYAMA, AP Business Writer
8/15/07 1:30 AM Pacific Time
"Asian and European shares dipped Wednesday as markets continued to battle jitters over a credit crunch started by problems in the U.S. subprime credit sector and as broader concerns emerged about the U.S. economy.
In Asia, Tokyo and New Zealand benchmarks tumbling to their lowest closes in nine months.
In Europe in early trade, the
U.K.'s FTSE 100 index fell 0.9 percent shortly after the market opened.
France's CAC 40 benchmark fell 1.21 percent...
Germany's DAX fell 0.8 percent....
The Nikkei 225 index...plummeted....2.19 percent, to 16,475.61, its lowest since Dec. 8 (2006) as financial issues got hammered by the nervousness about a fallout from the U.S. subprime mortgage crisis....
Worries have been growing about a slowdown in the U.S. economy, fueled by faltering profit forecasts by major retailers.
Weak American spending would be a blow to the Japanese and other Asian economies, which are all still heavily dependent on exports to the U.S.
In New Zealand, the...NZX-50 index slipped...1.5 percent...its lowest closing since December 2006.
"It's not a particularly pretty day for the market. World markets are....quite skittish," said UBS equities director Paul Nicolson in New Zealand....
Hong Kong's Hang Seng Index was down 3.0 percent and
Singapore's Straits Times Index was down....
The benchmark index in the
Philippines closed 4.1 percent lower and
Taiwan's Weighted Price Index fell 3.6 percent....
David Cohen, director of Asian forecasting at Action Economics in Singapore....warned more bad news could be expected about troubled hedge funds, which could set off another drop in regional stocks.
"It's going to be on a roller coaster for a little while. Clearly investors are nervous," he said....
fears remain about the future of the overall U.S. economy. On Tuesday, U.S. retailers announced lower profit forecasts, including Wal-Mart Stores Inc. and Home Depot Inc. A slowdown in the U.S. economy, a key export market for Asia, could spell a more real danger for the region.
Overnight in the U.S.,
the Dow shed 1.57 percent to 13,028.92, on the verge of falling below the psychologically important 13,000 mark, which it first crossed in late April.
Elsewhere in Asia on Wednesday,
Jakarta's main stock index was down 5.3 percent,
Australia's benchmark was down 3.0 percent, and
Thailand (declined) 2.2 percent...."
Everything in Europe and Asia has declined so far on Wednesday, July 15th, 2007.