Asian Stocks Tumble on Bear Stearns News
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Major Asian stock markets fell sharply in early trading on Monday as pessimism continued to spread despite the Fed's dramatic moves over the weekend, sending Tokyo's benchmark index to a three-year low. (article 2)
In Europe, the U.K's benchmark FTSE 100 index dropped 1.9 percent to 5,667.5, while Germany's DAX slipped 2.4 percent to 6,443.59. (article 1)
" U.S. dollar lows as well as record high oil prices are... adding to woes as the market begins to head south following strong gains at the start the week said Nick Mitchell (article 1)
JPMorgan said Sunday it would acquire Bear Stearns for $236.2 million und or $2 a share und in a deal that represents a stunning collapse for one of the world's largest and most venerable investment banks. (article 3)
Wall Street plunged anew Friday after a near meltdown at Bear Stearns Cos. handed investors the unwelcome confirmation that the credit market's troubles are far from over. (article 7)
Word that the investment bank needed rescuing touched off a wave of selling that left each of the major indexes down more than 1.5 percent on the day; the Dow Jones industrial average fell nearly 200 points. (article 7)
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The rate at which banks will lend to each other spiked to a three-month high today as markets appeared to brush-off the US Federal Reserve's surprise $280 billion liquidity injection earlier this week. (article 1)
At the beginning of the week, the US Fed led a group of central banks, including the Bank of England, in agreeing to pump $280 billion into the market through an asset swap where lenders can exchange mortgage-backed securities. (article 1)
BEGIN: Comment Teaser Module Trading on the London market was subdued today, up 9.2 points at 5,701.6 by midday after closing down 84 points on Thursday as the weakening dollar spooked investors. (article 1)
Oil prices receded from yesterday's $110 high as the dollar traded at $1.5557, against the euro down from $1.5587 while the Japanese yen reached100.62, down from 102.04. (article 1)
China central bank has already warned interest rates may continue to go up to curb inflation, which soared to a near 12-year high of 8.7 per cent in February. (article 1)
Concerns over the fate of Bear Stearns, Wall Street's smallest bank, are also still high on persisitent rumours the bank is facing difficulties. (article 1)
Bear Stearns' shares fell in out-of-hours trading in New York to their lowest level for six years last night. (article 1)
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Source articles
- Global Markets Tumble (Washington Post, 03/16/2008, 273 words)
- Major Stock Markets in Asia Tumble (nytimes.com, 03/17/2008, 212 words)
- Asian Stocks Tumble on Bear Stearns News (Washington Post, 03/16/2008, 324 words)
- Asian Stocks Tumble on Bear Stearns News (Washington Post, 03/16/2008, 363 words)
- Asian stocks fall sharply Monday (boston.com, 03/16/2008, 332 words)
- A Wild Ride Ends in Neutral (nytimes.com, 03/16/2008, 173 words)
- ABC News: Stocks Drop as Bear Sterns Shakes Market (ABCNews, 03/15/2008, 357 words)
- London shares open flat on recession fears (business.timesonline.co.uk, 03/14/2008, 540 words)
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Source articles
- London shares open flat on recession fears (business.timesonline.co.uk, 03/14/2008, 540 words)
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Other stories about Bear, Stearns and Fed:
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Bear, Stearns, Fed, banks, Financial |
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