BBC
Weakness in the US dollar has continued to overshadow global stock markets as investors offloaded exporters on fears that corporate earnings will decline.
Commodity markets have also slumped, with traders beginning to ask if recent record prices were justified.
London's main FTSE 100 index shed 1.2% to 5,841, led by the mining firms that have been the year's best performers.
Germany's Dax ended down 1%, France's Cac slid 1.7%, Tokyo's Nikkei 225 fell 0.7%, and India's Sensex slumped 3.8%.
In New York the Dow Jones was down for most of the day before finally ending up 0.42%.
The Nasdaq lost 0.23% to close at 2,239.
One stockbroker in Germany explained that: "Investors are extremely nervous and the sell-off is hectic as people are trying to minimise their losses."
Banking giant HBOS added that: "Risky assets are under significant pressure across the board."
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