Arab Today, arab today asian markets slump for second day
Last Updated : GMT 21:10:57
Arab Today, arab today
Arab Today, arab today

Asian markets slump for second day

Arab Today, arab today

Arab Today, arab today Asian markets slump for second day

Hong Kong - AFP

Asian markets plummeted for a second straight day and the dollar rose against regional units on growing fears that the global economy is on the verge of slipping back into recession. Seoul on Friday dived 4.35 percent, Hong Kong was 1.81 percent lower, Sydney lost 1.08 percent and Taiwan slumped 3.79 percent while Shanghai was 0.46 percent lower. The Asian sell-off followed heavy losses in the United States and Europe, which were caused by the Federal Reserve\'s comments on Wednesday that the US economy faced \"significant downside risks\", with the economy struggling with slow growth, high unemployment and a depressed housing market. The warning came after the Fed announced a $400 billion plan to boost the economy that would see it shift its shorter-term debt portfolio to longer-term bonds in a bid to lower long-term interest rates, a move that disappointed markets. On Wall Street the Dow slumped 3.51 percent -- marking its worst two-day fall since November 2008 -- the S&P 500 sank 3.19 percent and the tech-heavy Nasdaq Composite shed 3.25 percent. The Fed\'s forecast piled the pressure on already nervous investors, who were selling assets earlier in the week amid fears Greece is on the verge of default, which could spread to other economies and lead to another global financial crisis. \"The selloff in risk assets threatens to become disorderly,\" Tim Condon, economist at ING, told Dow Jones Newswires. The dollar extended its rise against regional currencies as dealers shifted their attention away from risker assets. The Australian dollar was at 98.31 US cents, from $1.0017 late Thursday. The Aussie hit a record high above $1.10 just two months ago. The greenback, which in recent months was languishing near record lows against several Asian currencies, was up at Sg$1.3017 from Sg$1.2878, to 1,194.47 South Korean won from 1,179.57 and to Tw$30.61 from Tw$30.34. The euro edged up to $1.3546, from $1.3464 late Thursday in New York, while it was also at 103.21 yen, from 102.64. The dollar fetched 76.20 yen, from 76.25 yen. On oil markets New York\'s main contract, West Texas Intermediate for November extended its losses, dropping $1.09 to $81.60 in morning Asian trade, and Brent North Sea crude for November tumbled 0.85 cents to $106.34. Gold fetched $1,747.10 an ounce by 0200 GMT, down from the $1,765.40 it was at by 0900 GMT Thursday.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian markets slump for second day Arab Today, arab today asian markets slump for second day

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian markets slump for second day Arab Today, arab today asian markets slump for second day

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday