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Stock indices plummet quickest since 9/11 |
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World -
World Economy
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Written by Staff Writer
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Feb 27, 2007 at 08:47 PM |
Today has seen US stock indices posting their steepest drop since the September 11 2001 terrorism attack and China suffering the worst fall in a decade.
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The slips were echoed in the South Korean capital, Seoul, where the country's benchmark index fell 3.9%.
Tuesday's falls were sparked by a near-9% slide in Shanghai and comments fuelling fears of a US recession.
Asian stock markets have opened sharply lower after the biggest drop in Chinese stocks in a decade triggered a steep slide in global markets.
Japan's TOPIX index dipped 5.04% while the country's Nikkei 225 stock index fell 693.50 points, or 3.83%.
During Tuesday's trading, the Dow Jones fell more than 500 points at one point, before closing down 416.02 points, or 3.29%, at 12,216.24.
In London, the FTSE 100 closed on a fall of 2.3%, or 148.6 points, to 6,286.1.
Investors are hoping this is a needed price correction, rather than the beginning of a fall.
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Last Updated ( Mar 18, 2007 at 08:05 AM )
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