Confidence Crisis in Stocks; Oil at $88
Oct 06, 1:39 AM ET |
|
| The Dow Jones index dropped below 10,000 for the first time since October 2004. Nasdaq and S&P declined nearly 5%. Benchmark indexes in Russia, Brazil, Mexico and Indonesia plunged more than 10%. European markets closed down 5%. Metals and mining companies in New York dropped between 10% and 15%. |
|
|
Full Story... |
UK: Largest One-day Loss in 7 Years
Oct 07, 1:46 AM ET |
|
| Stocks nosedive in London trading. The UK benchmark index drops the most in one-day in last seven years. Mining, financials and energy related stocks declined between 10% and 15%. The Bank of England plans to offer £40 billion. Royal Bank of Scotland drops 21% and Xstrata dive 19%. |
|
|
Full Story... |
Allianz Stake in Hartford, ArcelorMittal Plunges
Oct 07, 1:44 AM ET |
|
| Hartford Financial receives capital infusion from Allianz SE. MetLife, Prduential and Principal Financial Group dive. Metals and mining companies fall sharply. American Express, Visa and MasterCard drop. eBay cuts 1,600 staff and takes a charge. Gannett Drops to a new low. |
|
|
Full Story... |
German Bailout of Hypo; Growing European Crisis
Oct 06, 2:45 AM ET |
|
| European leaders struggle to formulate a regional response to a growing banking crisis. Germany was forced to bailout the second largest real estate lender Hypo Real Estate Holding. Unicredit in Italy offered 6.6 billion euro recapitalization plan. Fortis was seized in Holland. |
|
|
Full Story... |
Yen Surges; Financials Drag Japan Lower
Oct 06, 6:49 AM ET |
|
| Stocks in Japan fell sharply after the banking crisis in Europe deepened and Germany was forced to bailout second largest real estate lender. Fearful investors worried that exports from Japan are likely to fall as credit market tighten in the U.S. and Europe. Commodities stocks fell. |
|
|
Full Story... |
Emerging Markets Dive; Russia Plunges 19%
Oct 06, 10:27 AM ET |
|
| The emerging markets plunge around the world as the deepening banking crisis spreads to Europe. Markets in Russia plunge 19% and in Indonesia and Brazil dive 10%, Saudi Arabia sank 9.8%, Turkey and Canda drop 7%. Most markets in Europe are down 5% and three popular indexes in the U.S. are 4% lower. |
|
|
Full Story... |
Rupee 5-year Low, Sensex Falls 6%
Oct 06, 6:25 AM ET |
|
| The Reserve Bank of India relaxed cash reserve ratio to pump liquidity in the financial system. Stocks fell to two-year low as the benchmark index declines 42% for the year. Rupee dropped to a 5-year low after international investors withdraw money from the market. Reliance drops 6%. |
|
|
Full Story... |
Australia Falls on Weak Commodities
Oct 06, 7:27 AM ET |
|
| Worries of developed nations economy sliding into a recession and dragging economies of China and India unnerved Australian investors. Exports of commmodities may fall on the weakening economies of Asia. Financials,energy and miners dropped. |
|
|
Full Story... |
Shanghai, Hong Kong Drop 5%
Oct 06, 10:27 AM ET |
|
| Hong Kong and China stocks fell as bank crisis extends to Europe from the U.S. Germany was forced to bailout second largest real estate lender. stocks in China fell on the worries that exports from the region will fall. Hong Kong and Shanghai fell 5%. Casino and shipping stocks plunge. |
|
|
Full Story... |
Bank Bailout Law; Nasdaq Down 11%
Oct 03, 7:10 AM ET |
|
| The U.S. market indexes dropped despite the passage of the bank bailout bill with $700 billion provision. For the Week, the indexes Nasdaq dropped 11%, S&P 500 plunged 9.4% and Dow fell 7.3%. The credit markets between banks remained tight and Libor rate reached record levels. |
|
|
Full Story... |
|
|
