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Black friday as Asian, European and US markets go on a selling spree

October 24th, 2008

First it is the Asian stock markets, then similar effect appeared on the European stock markets and the spill had little impact on the US markets, a black friday.

The BSE 30 and Seoul Composite are down over 10.5% followed by Nikkei 225, Hang Seng and Straits Times showing immense selling. The damage is also evident when the European markets opened their trading day. No surprises, all major European indices are ticking anywhere between 4% to 9% in the red.

The US stock markets though didn’t show that much of panic as expected. The Dow Jones Composite Average is down 75 points or 2.45%. The Dow Jones Industrial Average, the DJ Transportation Average, the DJ Utility Average are all down just about 2% each.

The NYSE though should some amount of selling. The NYSE Composite index is down 4%. The NASDAQ 100 is down 2.7%. while S&P 100 is down 3.8%

1 U.S. Dollar = 49.5294 Indian Rupees
1 U.S. Dollar = 0.7945 Euros
1 U.S. Dollar = 0.7945 GBP
1 Ounce Gold = $713.20
1 Barrel Crude Oil = $64.69

Friday, October 24, 2008 8:56:57 PM IST

Entry Filed under: Global Markets