22-01-2008
Stock indexes continue to fall
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Stock markets in both Europe and Asia are continuing to fall, it has emerged.
Markets are declining as a consequence of fears that a US recession will negatively impact upon economic performance worldwide.
Indeed, upon opening, the UK's FTSE 100 slipped by over three per cent, representing a fall of over 200 points.
"I think we can safely say that the stomping, snorting optimistic beast of a market is fleeing the field, to be replaced by something scary and grizzly," said Robert Peston, business editor for the BBC.
Hiroko Ota, Japan's minister for economic and fiscal policy, added: "Stock markets across the world are falling and it basically stems from the US."
Earlier, the Nikkei index in Japan declined by a total of 5.7 per cent at the close of trading, bringing the index's total fall this year to 18 per cent.
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