US markets close in red; Asian stocks worried about recession
October 15th, 2008
The US Stock markets closed in red with NASDAQ slipping 3.54%. S&P 500 is down 0.53% as feds begin to become partial owners of banks they are helping with the bailout. Meanwhile, the Asian markets are cooling after yesterday rallies.
Intel has beat market expectation by reporting a profit rise by 12%. The stock however closed down 6.24%. Domino’s Pizza, Inc. (down by 25.5%) and EnergySolutions, Inc. (down 44.38) are other top losing stocks.
Straits Times, Hang Seng and the Seoul Composite are down over 2.2%. The overall global financial picture however looks bleak as Asian stocks are falling on global recession fears. The South Korean Government has stepping to rescue its banks are its currency Won had a jump.
1 U.S. dollar = 47.6689 Indian Rupees
1 U.S. dollar = 101.8641 Japanese Yens
1 U.S. dollar = 0.7350 Euros
1 Ounce Gold = $840.80
Entry Filed under: Global Markets
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