Search This Blog

October 10, 2008

Global stock selloff

Global fears about the financial crisis deepened on Friday as stock markets the world over fell sharply and government officials scrambled to contain the damage.

Expectations for a coordinated response grew while the world's finance ministers and central bankers prepared to meet this weekend in Washington. President Bush is expected to make a statement about the financial crisis shortly after 10 a.m.

In the United States, stock futures were trading sharply lower - a sign that investors are bracing for a rough time at the opening bell.

European markets got off to a terrible start. Within the first 10 minutes of trading, London's FTSE, the CAC in Paris and the XETRA DAX in Frankfurt, Germany, had all sloughed off about 10% of their values.

European markets recovered some, but all were down generally 6% to 10% by late morning. Continue reading

No comments:


Related Posts Widget for Blogs by LinkWithin