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Despite pledges from world leaders, global markets continue to fall

Posted By admin On August 8, 2011 @ 7:36 am In Money Watch | Comments Disabled

Anthony Faiola and Zachary Goldfarb
Washington Post [1]
Aug 8, 2011

LONDON — Stock markets in Europe and Asia continued a bitter string of declines Monday, despite pledges of action by world leaders and a radical move by the European Central Bank to ease fears of an escalating debt crisis in the region by buying up the troubled debt of Italy and Spain.

The ECB signaled after an emergency meeting Sunday that that it would invest in European bond markets in a bid to prop up hard-hit Italy and Spain, Europe’s fourth- and fifth-largest economies, which are in the midst of a worsening financial crisis.

Signs of that intervention on Monday — as well as a vow by the G-7 nations to take “all necessary measures to support financial stability and growth” — buoyed the bonds of both nations, sharply driving down their borrowing costs in midday European trading.

But on the first day of global trade following a downgrade of U.S. debt by Standard & Poors, broader sentiment remained grim, with even stock markets in Milan and Madrid giving back their early gains and falling into negative territory.

Full article here [1]

Despite pledges from world leaders, global markets continue to fall  150709banner2 [2]


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URLs in this post:

[1] Washington Post: http://www.washingtonpost.com/world/europe/despite-pledges-from-world-leaders-global-markets-continue-to-fall/2011/08/08/gIQAvgRA2I_story.html

[2] Image: http://www.prisonplanet.tv/

[3] European stock markets rocked by panic selling as debt crisis reignites: http://www.prisonplanet.com/european-stock-markets-rocked-by-panic-selling-as-debt-crisis-reignites.html

[4] Berlusconi Says Leaders May Close World’s Markets: http://www.prisonplanet.com/berlusconi-says-leaders-may-close-worlds-markets.html

[5] Global stock markets tumble amid fears Europe is failing to take control of Greece ‘Ebola virus contagion’: http://www.prisonplanet.com/global-stock-markets-tumble-amid-fears-europe-is-failing-to-take-control-of-greece-ebola-virus-contagion.html

[6] World stock markets plunge as global crisis deepens: http://www.prisonplanet.com/world-stock-markets-plunge-as-global-crisis-deepens.html

[7] World markets continue bounce with more gains: http://www.prisonplanet.com/world-markets-continue-bounce-with-more-gains.html

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