World stock market GG...
World stock markets plummeted on Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis.
London, Frankfurt and Paris all tumbled more than six percent before pulling back slightly while a 15-percent dive in Moscow forced yet another halt to Russian trading.
Iceland's stock market suspended trading in all financial shares including three major banks amid reports of a government rescue of the stricken banking sector.
Investors dumped shares after US stock markets had fallen sharply on Friday despite US congressional approval of a 700-billion-dollar bank bailout. Wall Street was due to reopen at 1330 GMT.
In afternoon trade, London was down 5.23 percent, Paris showed a loss of 5.63 percent and Frankfurt shed 5.43 percent.
On Monday, Tokyo ended down 4.25 percent as Hong Kong shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai plunged 5.78 percent to close at two-year lows.
European stocks plummeted after Germany's fourth biggest bank, Hypo Real Estate, had to be rescued afresh over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday.
Oil meanwhile tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy.
Riyadh, the largest stock market in the Arab world, shed almost 10 percent halfway through trading on Monday and shares in other energy-rich Arab states in the Gulf also slumped.
Underscoring the worsening conditions in the United States, the world's largest economy, 159,000 US jobs were lost in September, data showed Friday.
In Taipei, where stocks ended down 4.1 percent, also at a four-year low.
Singapore's Straits Times Index fell 5 percent to a near three-year low on Monday, hurt by redemption by fund managers and concerns the global economy has worsened.
http://sg.news.yahoo.com/afp/20081006/tts-stocks-world-c1b2fc3.html
http://sg.news.yahoo.com/rtrs/20081006/tbs-singapore-stocks-a5a65c6.html
London, Frankfurt and Paris all tumbled more than six percent before pulling back slightly while a 15-percent dive in Moscow forced yet another halt to Russian trading.
Iceland's stock market suspended trading in all financial shares including three major banks amid reports of a government rescue of the stricken banking sector.
Investors dumped shares after US stock markets had fallen sharply on Friday despite US congressional approval of a 700-billion-dollar bank bailout. Wall Street was due to reopen at 1330 GMT.
In afternoon trade, London was down 5.23 percent, Paris showed a loss of 5.63 percent and Frankfurt shed 5.43 percent.
On Monday, Tokyo ended down 4.25 percent as Hong Kong shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai plunged 5.78 percent to close at two-year lows.
European stocks plummeted after Germany's fourth biggest bank, Hypo Real Estate, had to be rescued afresh over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday.
Oil meanwhile tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy.
Riyadh, the largest stock market in the Arab world, shed almost 10 percent halfway through trading on Monday and shares in other energy-rich Arab states in the Gulf also slumped.
Underscoring the worsening conditions in the United States, the world's largest economy, 159,000 US jobs were lost in September, data showed Friday.
In Taipei, where stocks ended down 4.1 percent, also at a four-year low.
Singapore's Straits Times Index fell 5 percent to a near three-year low on Monday, hurt by redemption by fund managers and concerns the global economy has worsened.
http://sg.news.yahoo.com/afp/20081006/tts-stocks-world-c1b2fc3.html
http://sg.news.yahoo.com/rtrs/20081006/tbs-singapore-stocks-a5a65c6.html
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