Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Stocks bomb as dire warnings shake markets

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

CNN
Friday, Oct 24, 2008

Stock prices bombed to new lows Friday as dire forecasts drove the global financial system into one of its worst downward swings since the credit crisis began.

London’s FTSE 1000 dropped by more than nine percent at one point, following dramatic losses in Asia as markets reacted with alarm at comments by the former head of the U.S. Federal Reserve who warned of a “credit tsunami.”

In Moscow, trading was halted

In Asia, South Korea’s KOSPI Composite Index closed down 10.6 percent Friday, while Japan’s Nikkei Exchange lost 9.6 percent on news that Sony had cut its profit forecast in half.

(Article continues below)

Stocks bomb as dire warnings shake markets  161008pptv2

The economic turmoil will be the focus of the two-day, 43-nation Asia-Europe Meeting, which opens Friday in Beijing, according to European Union President Jose Manuel Barroso.

  • A d v e r t i s e m e n t

Leaders hope this week’s summit in China will help bring agreement on a response to the crisis ahead of a November 15 meeting hosted by U.S. President George W. Bush in Washington.

“We need a coordinated global response to reform the global financial system. We are living in unprecedented times and we need unprecedented levels of global coordination,” The Associated Press reported Barroso as saying.

Full article here

This article was posted: Friday, October 24, 2008 at 3:53 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The World Must Realize The Control Of Humanity See the rest on the Alex Jones YouTube channel.

Obama Says Israel Has A Right To Defend Its Border While He Collapses The US Border See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.