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Stocks Plunge On Recession Fears

Posted By admin On October 23, 2008 @ 3:43 am In Money Watch | Comments Disabled

SKY News [1]
Thursday, Oct 23, 2008

Shares have plunged in Asia on growing fears of a global recession.

Japan’s Nikkei tumbled more than 7% at one point, hitting levels last seen in May 2003.

It recovered some of the losses to end down 2.46 percent amid hopes of a bounce on Wall Street later in the day.

In London, the FTSE 100 index of leading shares market fell on opening before moving into positive territory.

The South Korean market closed down 7.4%.

Share prices in Hong Kong and Australia were also down as the first markets opened following Wednesday’s mass sell-off on Wall Street.

(Article continues below)

Stocks Plunge On Recession Fears  161008pptv3 [2]

The Dow Jones industrial index closed down 5.6% as the continued pressures of the credit crunch sparked panic-selling.

News that world leaders are to meet next month to discuss the global financial crisis failed to halt a plunge that began early on Wednesday and accelerated in late US trading.

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[1] SKY News : http://uk.news.yahoo.com/5/20081023/twl-stocks-plunge-on-recession-fears-3fd0ae9.html

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

[3] Stocks Plunge, Double Dip Recession Fears Grow After Home Sales Report: http://www.prisonplanet.com/stocks-plunge-double-dip-reccession-fears-grow-after-home-sales-report.html

[4] U.S. Stocks Plunge Most Since Crash of `87 on Recession Concern: http://www.prisonplanet.com/us-stocks-plunge-most-since-crash-of-87-on-recession-concern.html

[5] Stocks Plunge on Economic Fears, Gold Hits Record High: http://www.prisonplanet.com/stocks-plunge-on-economic-fears-gold-hits-record-high.html

[6] Global stocks slip on recession fears, gold rises: http://www.prisonplanet.com/global-stocks-slip-on-recession-fears-gold-rises.html

[7] Global Recession Fears Drive Sell-Off: http://www.prisonplanet.com/global-recession-fears-drive-sell-off.html

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