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| Version 6 | Version 7 |
|---|---|
| Shares fall on more economy fears | Shares fall on more economy fears |
| (30 minutes later) | |
| European and Asian shares have fallen sharply as concerns continue about the threat of recession in the US and its impact on the world economy. | |
| The UK's main FTSE 100 index was down 108 points or 1.8% in morning trading in London, while Germany's Dax had lost 1.6% and France's Cac was down 2.5%. | |
| In Japan, the Nikkei 225 had earlier finished the day's trading down 4%. | In Japan, the Nikkei 225 had earlier finished the day's trading down 4%. |
| Analysts said dealers were cautious ahead of an expected interest rate cut from the Federal Reserve on Wednesday. | Analysts said dealers were cautious ahead of an expected interest rate cut from the Federal Reserve on Wednesday. |
| Hong Kong's Hang Seng index closed Monday down 4.3%, while Mumbai's Sensex was down 3.5% in afternoon exchanges. | Hong Kong's Hang Seng index closed Monday down 4.3%, while Mumbai's Sensex was down 3.5% in afternoon exchanges. |
| Monday's falls come after Friday's declines on Wall Street, with the Dow Jones index losing 171 points or 1.4%. | Monday's falls come after Friday's declines on Wall Street, with the Dow Jones index losing 171 points or 1.4%. |
| 'No appetite' | 'No appetite' |
| Despite the falls, the market mood seemed calmer after last week's ups and downs. | Despite the falls, the market mood seemed calmer after last week's ups and downs. |
| The market appears to have hit bottom last week but it's still not in a position to keep rising, considering various events pending such as the Fed rate decision Koichi Ogawa, Daiwa SB Investments | The market appears to have hit bottom last week but it's still not in a position to keep rising, considering various events pending such as the Fed rate decision Koichi Ogawa, Daiwa SB Investments |
| Last week saw global equity markets brought down by growing despair over the US economy, only to be later lifted by a $150bn (£76bn) stimulus plan agreed between the US Congress and the Bush administration. | Last week saw global equity markets brought down by growing despair over the US economy, only to be later lifted by a $150bn (£76bn) stimulus plan agreed between the US Congress and the Bush administration. |
| Francis Lun, general manager at Fulbright Securities in Hong Kong, said the market was "fluctuating wildly". | Francis Lun, general manager at Fulbright Securities in Hong Kong, said the market was "fluctuating wildly". |
| "Investors don't have the appetite to buy stocks now," he was quoted by AFP news agency as saying. | "Investors don't have the appetite to buy stocks now," he was quoted by AFP news agency as saying. |
| "The market appears to have hit bottom last week but it's still not in a position to keep rising, considering various events pending such as the Fed rate decision," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments in Tokyo. | "The market appears to have hit bottom last week but it's still not in a position to keep rising, considering various events pending such as the Fed rate decision," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments in Tokyo. |
| The Fed, America's central bank, is widely expected to cut US interest rates to 3.25% when it makes its next scheduled decision on Wednesday. | The Fed, America's central bank, is widely expected to cut US interest rates to 3.25% when it makes its next scheduled decision on Wednesday. |
| Last week it reduced rates to 3.5% from 4.25% in an emergency move. | Last week it reduced rates to 3.5% from 4.25% in an emergency move. |