- 123jump.com Staff
- 08 Oct, 2008
- New York City
Stocks in Australia plummeted sharply on the weaknesses in the global economy as the International Monetary Fund forecasted that the losses on U.S. based loans and securities might rise to $1.4 trillion. The benchmark index in Australia dropped 5%.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
China and Hong Kong lowered key lending rates in lock steps with the Fed led coordinated to move to lower rates. HK lowered rates by 0.5% and China dropped lending rate by 0.27% for 1-year or longer dated maturities. In trading, benchmark stock indexes in Hong Kong plunged 8% and in China 3%.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
The global markets continue to reel under the widening banking crisis and weak confidence in the investor community. Stocks in New York, Europe and Asia continue to drift lower. The central bankers in the U.S., Europe, china other countries lower rate to improve liquidity.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
Rupee in Mumbai trading fell near five-year low and is likely to trade below record set in June of 2002. Rising trade and current account deficit and lack of interest from foreign investors has battered stocks and rupee. Sensex index dropped 3% and has lost nerly 50% from the peak in January.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
Stewart Enterprises plunges 25% after the rival Service Corp withdrew the offer. Merrill Lynch falls on the worries that current quarter loss will be wider than expected. Bank of America drops on $10 billion capital raising plan. MetLife plans secondary offering.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
Japan stocks plunged in a record one-day loss since 1987. Rising bankruptcies, worries related to banking sector health and falling profits from automakers dragged markets lower. Toyota dived 11% after media reports suggested 40% fall in profit for the current year.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
The Fed in a coordinated move with five other central banks lowered its key lending rate. The move comes after the Fed became the lender in the commercial paper market and offering nearly $900 billion in short term lending and expanding several times lending facility this year.
- 123jump.com Staff
- 08 Oct, 2008
- New York City
Asian and emerging markets plunge. Japan dropped the most since 1987. Indonesia halted after 10% fall. Russia drops 11% and closed exchanges till Oct 10. India with 3% loss is down 50% for the year. Hong Kong plunges 8.2% and cut rates. Australia declines 5%.
- 123jump.com Staff
- 07 Oct, 2008
- New York City
Real estate investment trusts plunged on the worries that tight credit conditions may force some companies to bankruptcies. General Growth Properties dropped 42% and Simon Property fell 10%. Bank of America sank 26% after it cut its dividend. Airlines plunged on aircraft financing worries.
- 123jump.com Staff
- 07 Oct, 2008
- New York City
For the first time in the year all thirty stocks in Dow Jones Industrial Average dropped two days in a row. Record number of stocks in S&P 500 index closed down, 400 stocks fell more than 3% and 74 stocks fell more than 10%. The Fed acts to provide liquidity in short term loan market.
- 123jump.com Staff
- 07 Oct, 2008
- New York City
UK stocks gained a fraction after dropping the most in a single day in the previous session in seven years. The UK government is at advanced stages of discussion to pump between
- 123jump.com Staff
- 07 Oct, 2008
- New York City
The Reserve Bank of Australia lowered its key lending rate by 100 basis points to 6%. The larger than anticipated cut was prompted by tight lending conditions in the global markets. Stocks rallied on the rate decision. Mining and energy stocks rallied but gains were trimmed in late trading.
- 123jump.com Staff
- 07 Oct, 2008
- New York City
Early rally in Mumbai trading faltered despite Sebi lifting the ban on P-note transactions and the RBI lowering cash reserves ratios by 0.5%. Tata Motors agreed to relocate its Nano manufacturing plant to Gujarat. Rupee dropped to another low. Infosys drops to a 2-year and TCS falls to 3-year lows.
- 123jump.com Staff
- 07 Oct, 2008
- New York City
The Bank of Japan left its key lending rate at 0.5% and cautioned that commodities prices are likely to drop but inflation is expected to remain near 2.5%. Japanese yen edged lower but traded near three-year high against euro and dollar.