|
|
Article: Asian markets plunge on US recession fears; Shanghai index drops 7.2 percent
- Article from:
- AP Worldstream
- Article date:
- January 28, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Global market turmoil continued into a second week as Asian markets tumbled Monday in the wake of Wall Street's sell-off Friday amid persistent worries about a possible U.S. _ and worldwide _ economic slowdown.
China's benchmark index plummeted 7.2 percent to its lowest point in six months on concerns that a recession in the U.S. would mean less demand for Chinese-made products. Hong Kong's market sank 4.3 percent while India's Sensex dropped 3.5 percent in afternoon trading.
U.S. stock index futures also were down, suggesting that Wall Street was poised to drop again when markets open.
Investors around the world have been jittery for weeks about a U.S. slump, which would ...