Global Markets Fall
Posted on January 21, 2008The BBC is reporting some serious drops in foreign markets -- the biggest drops since stock markets plummeted after 9/11. The FTSE 100 was off 5.5%. Paris and Frankfurt are down 7%.
The U.S. markets are closed today to celebrate Martin Luther King Jr.'s birthday. Marketwatch reports that stock future indicate the DOW will open 500 points down on Tuesday morning.Global stock indexes, including the UK FTSE 100, have fallen their most since the terrorist attacks of September 11 2001 amid fears of a recession.
The FTSE 100 index tumbled 5.5% to 5,578.2, wiping �84bn ($163bn) off the value of its listed shares.
Indexes in Paris and Frankfurt slumped by about 7%, while markets in Asia, India and South America also dropped.
Investors questioned whether a recent plan to boost the US economy would be enough to avert a full-blown recession.