This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6947249.stm
The article has changed 12 times. There is an RSS feed of changes available.
| Version 5 | Version 6 |
|---|---|
| Markets settle down after storm | Markets settle down after storm |
| (about 2 hours 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. | 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. | 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 | Falling markets |
| The modest upturn in New York trading helped London shares to recover some of their early losses, with the FTSE 100 closing well off its lows for the day, down 0.6%, or 34.2 points, at 6109.3. | |
| 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. | 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. | 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. | In Hong Kong, the Hang Seng lost 632 points or 2.9% to close at 21,375.7. |