From AP via Yahoo! News:
World stocks fall amid U.S. jobs, housing gloom
World stock markets fell Friday as gloomy economic reports from the world's two biggest economies heightened fears of a sharper global downturn. In Europe, leaders were set to weigh options for fixing the continent's debt crisis.
The leaders of Germany,
France, Italy and Spain are gathering in Rome on Friday to try to
hammer out proposals for easing the widening financial crisis spreading
across the 17-member euro currency union...
Due to time constraints, we now move to further action.
A further sign of weakness in the world's No. 1 economy came from the Philadelphia branch of the Federal Reserve, which issued a report showing that manufacturing in the northeast had experienced a sharp decrease due to a steep fall in company orders.
Appetite
for financial assets such as stocks was also dented by the results of a
monthly HSBC survey, which showed that manufacturing in China has continued to contract. China's growth has been a pillar of the global economy in recent years, so its slowdown has been of particular concern to investors.
According to the Slave Chinese Department of Labor Statistics, the slaves are dying at a higher than expected rate.
"With signs of weakness in the US economy, the persistence of the eurozone debt crisis and the threat of a hardlanding in China
looming, the prospect of a synchronized economic slowdown is real,"
analysts at DBS Bank Ltd. in Singapore said in a market commentary.
Sentiment
was also shaken after Moody's Investors Service lowered the credit
ratings of 15 major banks, including Bank of America, JPMorgan Chase and
Goldman Sachs, saying their long-term prospects for profitability and
growth are shrinking...
No comments:
Post a Comment