U.S. and European share prices suffered heavy losses Friday, as fear stalked trading floors and frazzled investors looked to a meeting of G7 finance chiefs for salvation. Stock exchanges were in turmoil after Wall Street opened sharply lower before limping into positive territory, only to plunge again on comments from U.S. President George W. Bush. European shares closely tracked the New York Stock Exchange, going into a frenzied free fall after the start of trade on Wall Street, briefly pulling back and then plummeting. Asian shares earlier in the day were likewise hammered, with Tokyo giving up more than 9.0 percent and Hong Kong 7.2 percent. Global stocks went into a tailspin, with double-digit losses in Frankfurt, London and Tokyo, on widespread fears that the financial crisis was spiraling out of control, dealers said....
[read full story]
Your Web Site
