Asian markets which after last weeks downfall, reacted positively by the end of the week to the Fed emergency rate cut and the news of U.S. stimulus package and almost recovered losses incurred last week, have plunged again on Monday.
Asian markets again reacted in line with the US markets, which declined on Friday. On Friday Dow Jones industrials slid 1.38 percent and the technology-heavy NASDAQ composite index declined 1.47 percent.
Japan's benchmark Nikkei 225 index fell 3.97 percent to close at 13,087.91, erasing its jump on Friday. Concern that US recession would mean less demand for the product from this region has brought down all major indices ion this region. China's benchmark index plummeted 7.2 percent to its lowest point in six months. Hong Kong's market sank 4.3 percent while India's Sensex closed 1.14% percent down, after a late buying propped market from the days low.
U.S. stock index futures also were down, suggesting that Wall Street was poised to drop again when markets open. This is supposed to trigger a cuscading effect all over again. So tomorrow, may be a quite a bad day in store.
Asian markets again reacted in line with the US markets, which declined on Friday. On Friday Dow Jones industrials slid 1.38 percent and the technology-heavy NASDAQ composite index declined 1.47 percent.
Japan's benchmark Nikkei 225 index fell 3.97 percent to close at 13,087.91, erasing its jump on Friday. Concern that US recession would mean less demand for the product from this region has brought down all major indices ion this region. China's benchmark index plummeted 7.2 percent to its lowest point in six months. Hong Kong's market sank 4.3 percent while India's Sensex closed 1.14% percent down, after a late buying propped market from the days low.
U.S. stock index futures also were down, suggesting that Wall Street was poised to drop again when markets open. This is supposed to trigger a cuscading effect all over again. So tomorrow, may be a quite a bad day in store.
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