Asian stock markets ends in red, European markets too follow course
Recesion fears have made all Asian markets (except the Nikkei) into red. European markets too opened in the red with FTSE 100 and BEL-20 slipping 4%
The Indian Government stepped in and said that more money will be available with the banks to disperse. As much as Rs. 250 billion will be given to the bank for the farm waiver scheme announced. The Government is also increasing the cap of foreign investments in Indian corporate debt looking at the tight cash conditons. Meanwhile one of the leading Indian aviation company Jet Airways said it is laying off about 600 jobs obviously as a cost cutting measure.
France the British have called European nations to back them for ‘radical reforms’ for the global financial system worrying about a possible credit crisis like that of the Great Depression.
Meanwhile, the European stock markets are taking a hard hit this morning. The AEX General is down 5.1% followed by ATX, BEL-20, OSE All Share and FTSE 100 all down over 4% each. Almost all major European stock markets are trading in the red.
1 U.S. dollar = 48.1904 Indian Rupees
1 U.S. dollar = 100.8471 Japanese Yens
1 U.S. dollar = 0.7368 Euros
1 Ounce Gold = $836.70
Add commentOctober 15th, 2008