Global stocks sink after Wall Street plunge

[Omaha Steve]

Source: AP-EXCITE

By JOE McDONALD

BANGKOK (AP) — Global stock markets sank Friday after Wall Street suffered its worst day of the year and worries grew that a decline in German growth could push Europe toward another recession.

KEEPING SCORE: Britain's FTSE-100 lost 1.3 percent to 6,349.50 while Germany's DAX fell 1.9 percent to 8823.14 and France's CAC-40 declined 1.5 percent to 4,080.83. Wall Street looked set for more declines, with futures for the Dow and S&P 500 down 2.3 percent and 2.4 percent respectively. On Thursday, the Dow lost 2 percent and the S&P fell 2.1 percent.

ASIA'S DAY: Tokyo's Nikkei 225 index slumped 1.3 percent to 15,286.25 points and Hong Kong's Hang Seng lost 1.6 percent to 23,144.81. China's Shanghai Composite Index shed 0.6 percent to 2,375.28. Seoul fell 1.3 percent and Sydney and Singapore also declined.

WALL STREET: Volatility returned to global markets as U.S. stocks had their worst day of the year just 24 hours after recording their best. Prices fell after members of the Federal Reserve board expressed concern about inflation, tempering suggestions in minutes of a recent Fed meeting released Wednesday that suggested interest rates would not be raised for now. All 30 stocks in the DJ declined.

FULL story at link.



A man walks by an electronic stock board of a securities firm in Tokyo showing Japan's benchmark Nikkei 225 index that plunges 225.95 points to 15,252.98 Friday afternoon, Oct. 10, 2014. Asian stocks sank Friday after Wall Street suffered its worst day of the year and weak German trade data fueled worry Europe is sliding into recession. The Nikkei closed at 15,300.55 Friday. (AP Photo/Koji Sasahara)



Read more: http://apnews.excite.com/article/20141010/financial-markets-e7de70af4b.html

[ffr]

1. Stupid people! Germany has a shrinking consumer base

You cannot expect fewer consumers to continue to buy products at an accelerating rate forever, especially when there are fewer and fewer of them!