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| Version 4 | Version 5 |
|---|---|
| Markets settle down after storm | Markets settle down after storm |
| (30 minutes later) | |
| Wall Street shares are having a mixed session without going far into positive or negative territory, despite tough sessions in Europe and Asia. | Wall Street shares are having a mixed session without going far into positive or negative territory, despite tough sessions in Europe and Asia. |
| In early trading, the Dow Jones index fell below the 13,000 mark for the first time since 25 April. | In early trading, the Dow Jones index fell below the 13,000 mark for the first time since 25 April. |
| But by 1600 BST (1100 local time), it was up 0.2% or 26.8 points at 13,055.7. | But by 1600 BST (1100 local time), it was up 0.2% or 26.8 points at 13,055.7. |
| Earlier, global stocks fell as fears about credit market conditions, driven by problems in the US mortgage sector, continued to cause concern. | |
| Investors were soothed by US government data that showed consumer inflation rising by just 0.1% in July, slightly less than expected. | Investors were soothed by US government data that showed consumer inflation rising by just 0.1% in July, slightly less than expected. |
| But there were still jitters from Tuesday's news that Sentinel Management Group, which manages $1.6bn in funds, was trying to stop its clients from withdrawing their money. | But there were still jitters from Tuesday's news that Sentinel Management Group, which manages $1.6bn in funds, was trying to stop its clients from withdrawing their money. |
| Worries about a slowdown in US consumption were not helped by results from the department store Macy's, which blamed the "difficult" climate for a 77% fall in its quarterly profits. | |
| Falling markets | |
| The modest upturn in New York trading helped London shares to recover some of their early losses, with the FTSE 100 down 0.6%, or 36.7 points, at 6106.8 by 1600 BST. | The modest upturn in New York trading helped London shares to recover some of their early losses, with the FTSE 100 down 0.6%, or 36.7 points, at 6106.8 by 1600 BST. |
| But concern about the effect that the state of the US economy could have on Asian exports had already hit shares in Japan and Hong Kong. | |
| Japan's Nikkei-225 index dropped 2.2% or 369 points to close at 16,475.61, its lowest close for eight months. | |
| In Hong Kong, the Hang Seng lost 632 points or 2.9% to close at 21,375.7. |