Article Image
News Link • Economy - International

Global stocks fall, euro below $1.30 after round of downbeat economic news

•, Associated Press
 The mood in financial markets turned sour Thursday after a round of disappointing economic news illustrated the scale of the global economic downturn.
Figures from Europe, Japan and China reminded investors that the world’s economy is struggling, though a positive bond auction from Spain helped limit the retreat in markets.
Among the sobering news for investors was a survey in Europe pointing to a deepening recession in Europe, figures from Japan that showed the country’s powerhouse export sector was continuing to suffer and a private survey of manufacturers in China that showed activity fell again in September, though at a slightly slower pace than August.

“The major concern is that .... equities will now find themselves struggling unless we see a step change in the health of the global economy,” said Fawad Razaqzada, market strategist at GFT Markets.

In the wake of the figures, stocks suffered one of their biggest reverses in a while as the euro dropped below $1.30 for the first time in a week.


Join us on our Social Networks:


Share this page with your friends on your favorite social network: