Friday, May 7, 2010

Stocks Tumble Worldwide on Debt Fears


Wall Street endured a dizzying plunge Thursday, sending the Dow Jones industrials to a loss of nearly 1,000 points in less than half an hour. A computerized selloff possibly caused by a trader's mistake may have been responsible for the late-session plunge, and the Dow recovered two-thirds of the loss before the closing bell.  But the jitters over Europe remained and the selling spread to Asia on Friday. Markets in Japan, South Korea and China all posted steep losses, with Tokyo's benchmark Nikkei 225 stock average closing down 3.1 percent.

No comments:

Post a Comment