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Wall Street pares losses as global markets plunge further


Wall Street pared back steep losses Thursday amid swirling fears of a credit crunch after world stock markets plummeted and London endured its steepest one-day fall since the run-up to the Iraq war.

Share prices across the world skidded lower as investors reacted to more bad news linked to the US housing market, and despite Wall Street's late-day recovery the leading Dow Jones Industrial Average still closed lower for a sixth straight day.
"Stocks had been pressured on continued nervousness in the credit markets along with some negative economic news," AG Edwards chief market strategist Al Goldman said of the US markets.

In London, where shares took a pounding, Tom Hougaard, chief market strategist at London spread-betting group City Index said: "It's been a pretty horrible day. Some very decent stocks have just been sold off wholesale simply to raise liquidity."

The Paris market shed 3.26 percent, the Frankfurt Dax fell 2.36 percent, while other markets across Europe fell by 2.0-4.0 percent.
In Asia, Seoul shares closed down 7.0 percent and there were also steep falls in Tokyo and Hong Kong.

"We have seen pressure on global markets as analysts are finding it difficult to calculate the extent of the losses involved," Barclays Capital analyst Henk Potts said.
He added: "Until analysts have a much better understanding of the losses and their potential impact the volatility will remain.

"One thing markets don't like is uncertainty and it is the uncertainty which is causing the volatility."

With the markets goin down i wonder SG house prices still all time high or not????
LOL...

I want this specs or sun specs... wahahaha i like the awkward design..
pls tell me where i can get it... wahahahahaah
I want the blardy CAP........ wahahahhahahaa

Chyi super HINT HINT.... wahahahhaha we get it together..... LOL
Wall Street pares losses as global markets plunge further Reviewed by Ah Wee on 10:16 PM Rating: 5

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