BEIJING—Global stock markets tumbled Friday amid fears the U.S. may be heading back into recession and Europe's debt crisis is worsening. The sell-off follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.©2011 The Ass Press. Come sue us, ass pressers.
Oil extended sharp losses to fall below $84 a barrel amid expectations a slowing global economy will undermine demand for crude.
In Europe, major markets fell, adding to losses Thursday. London's FTSE 100 declined 3.5 percent to 5,393.14 and Germany's DAX shed 3.8 percent to 6,172.00. France's CAC-40 lost 2.5 percent to 3,238.80.
Japan's Nikkei 225 stock average slid 3.7 percent to 9,299.88 and Hong Kong's Hang Seng dived 4.6 percent to 20,877.74.
China's Shanghai Composite Index lost 2.2 percent to 2,626.42.
Losses today have been indiscriminate," said IG Markets strategist Ben Potter in a report. "The big question on everyone's mind is what will happen across European and U.S. markets tonight and will there be any form of emergency policy response?"
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Friday, August 5, 2011
Here We Go ...
Where we stop, nobody knows.
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