Global Stock report

In this paper we will provide the global stock report for January 2008.
Global stock report as of 12th January 2008 is given below.
Global stock market fell today sharply because of mortgage crisis. The consumer spending also tended to fall which was a sign of US recession.
In the United States of America, the Federal Reserve Bank decreased their interest rate.
Oil prices decreased but the price of spot gold went high. It was near about 900 dollars per ounce.
The number of credit card defaults were increasing at certain companies, like American Express. Therefore, the share prices fell significantly. Shares of McDonald and Tiffany & Co. also dropped.
According to the report given by the New York Times, the world’s biggest brokerage would incur a loss of 15 billion dollars because of credit crisis.
The Dow Jones’ industrial average came down at 246.79 pts, or 1.92 %, at 12,606.30. The Nasdaq Composite Index dropped by 48.58 pts, or 1.95% at 2439.94. The Standard & Poor’s 500 Index fell at 19.28 pts, or 1.36% at 1401.05.
The dollar decreased by 0.4%, against yen to 108.88 yen and so was the euro by 0.5% to 161.15 yen.
European stocks decreased as well and it slightly touched the lowest level.
Japan’s Nikkei came down to its lowest closing level after November 2005.
Last Updated on : 26th August 2013

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Last Updated on : 26th August 2013

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