MaxShimba
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- Apr 11, 2008
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World stocks plunge on growing recession fears
MILAN (AP) -- Global stocks slid again Friday as fears of a possible U.S. recession combined with ongoing worries over Europe's debt crisis, which is stoking acute fears over the continent's banking sector.
European banking shares hit a near two and a half year low on renewed worries of the health of the continent's banks, while safe-haven gold prices nudged up against the $2,000 an ounce mark, and crude prices fell as investors feared a global slowdown will zap demand for crude.
"This week has seen a continuation of the trend of weaker than expected data and political reaction to the European problems which pretty much amounts to 'Let's have a get together a couple of times a year,' " said Gary Jenkins, an analyst at Evolution Securities."
Read more »
MILAN (AP) -- Global stocks slid again Friday as fears of a possible U.S. recession combined with ongoing worries over Europe's debt crisis, which is stoking acute fears over the continent's banking sector.
European banking shares hit a near two and a half year low on renewed worries of the health of the continent's banks, while safe-haven gold prices nudged up against the $2,000 an ounce mark, and crude prices fell as investors feared a global slowdown will zap demand for crude.
"This week has seen a continuation of the trend of weaker than expected data and political reaction to the European problems which pretty much amounts to 'Let's have a get together a couple of times a year,' " said Gary Jenkins, an analyst at Evolution Securities."
Read more »
