$110 billion evaporates in market bloodbath
People who have read anything I've reported, know that I don't just quote an article. I'll usually take a quote from of the article, then add my own report to the quote.
However, this time, there's simply nothing else to add. I'm dumbfounded. Does anyone know what is causing all this alarming mayhem?
I'm not a person that really knows anything about stocks either. If there is anyone reading this that knows what they're talking about; would they please interpret the data for us?
LOCAL stocks fell more than 7 per cent today, wiping $110 billion from the market's value, in the biggest rout since October 1987.
Europe's main stock markets slumped further in opening trade today, posting losses of between 2.57 and 4.62 per cent and mirroring huge sell-offs in Asia.
London's FTSE 100 index of leading shares plunged by 2.81 percent to 5,420.50 points at the start of trade on Tuesday, while the French stock market plunged 2.57 percent, with the CAC 40 index falling to 4,622.70 after losing nearly 7.0 percent on Monday.
In Frankfurt, the DAX index of 30 leading German shares dropped by 3.88 percent to 6,526.99 points.
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Source: CNN.com Living