Global Stock Markets Still Heading Down

Stock markets around the world have again fallen dramatically. This is following the ongoing events in the financial world, including statements by several UK politicians such as Prime Minister Gordon Brown.

The British FTSE 100 index was one the indexes that suffered from large falls. It fell by 5.00% to slip below the four thousand mark, at 3883.36 points.

Both major US indexes suffered from falls of over two per cent. The Dow Jones Industrial Average fell by 252.01 points (2.90%) to 8439.24 by 1730 UTC, while the Nasdaq index experienced a 2.30% drop.

South American markets performed particularly badly today. By 1730 UTC, the Argentinean MERVAL index had fallen by almost six per cent to 906.160 points, while the Brazilian Bovespa, fell by 6.89% (2,328.45 points) to a value of 31,490.04.

David Buik of BGC Partners commented on today’s falls. “It’s carnage,” he said. “Confidence is shot to ribbons. We need action now. It is a catastrophe that we have got to recession, but we have got to learn to live with it, and that means saving the markets.”

By Wiki News

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