Financial markets reel for second day
World stock markets tumbled for a second straight day on Tuesday, with investors unnerved by the risk of a full-blown global financial crisis despite huge cash injections from central banks.
Wall Street continued the rout that began in Asia and spread to European exchanges a day after US investment giant Lehman Brothers stunned the market with a bankruptcy filing.
The Dow Jones Industrial Average slid 0.54 percent in early trade, largely on fears that insurance giant American International Group may be the next credit-crunch victim. AIG shares plummeted as much as 70 percent at the open.
However,later in the day,Wall Street steadied and managed to move into positive territory on growing speculation the US government would come to AIG's rescue because the risk of letting it fail would be too great.
To read the full article, click here..
To read the ePaper, visit: http://epaper.dailystar.com.lb
Wall Street continued the rout that began in Asia and spread to European exchanges a day after US investment giant Lehman Brothers stunned the market with a bankruptcy filing.
The Dow Jones Industrial Average slid 0.54 percent in early trade, largely on fears that insurance giant American International Group may be the next credit-crunch victim. AIG shares plummeted as much as 70 percent at the open.
However,later in the day,Wall Street steadied and managed to move into positive territory on growing speculation the US government would come to AIG's rescue because the risk of letting it fail would be too great.
To read the full article, click here..
To read the ePaper, visit: http://epaper.dailystar.com.lb
Labels: AIG shares, American International Group, Asia, bankruptcy, central banks, Dow Jones Industrial, European exchanges, financial market, insurance giant, investors, stock market, Wall Street
posted by PressMart Team at
12:00 AM
0 Comments:
Post a Comment
<< Home