International Shares Down
Monday, April 14th, 2008Concerns about a possible US recession linger on. Major European stock indexes (CAC 40, DAX and FTSE 100), were all down 1 percent, while Asian stock indexes fell even more. China’s benchmark lost 5.6%, the Hang Seng dropped 3.5%, and Japan’s Nikkei fell 3.1%. News of a profit fall of 6% at General Electric caused unease at the World’s stock indexes. More bad news came from the International Monetary Fund which downgraded economic growth forecasts.
World shares fell at the start of the week amid growing concerns over the state of the US economy and the possibility of a wider recession.
London’s FTSE 100, France’s Cac 40 and Germany’s Dax all shed 1% in early trade after sharp falls in Asia.
China’s benchmark index fell 5.6%, Japan’s Nikkei fell 3.1%, and Hong Kong’s Hang Seng shed 3.5%.
Traders were worried by General Electric’s surprise 6% profit fall late last week, ahead of key earnings.