August 9, 2011
Asian Markets Open Down After the Dow's Terrible Day

After the Dow closed down by more than 600 points, Asian markets “plummeted” Tuesday morning surrounding growing fear of a global recession, The New York Times reports. Japan’s Nikkei 225 fell 4.7 percent by midmorning, while South Korea’s Kospi fell by 7.4 percent. Markets in Australia fell 4.7 percent, in Hong Kong by seven percent. The MSCI Asia Pacific Index fell 5.5 percent, Bloomberg reports. The Kospi fell by as much as nine percent, The Wall Street Journal reports. The fall in American markets Monday was the worst day of trading since the height of the financial crisis in 2008. ”The bears have come out of their hibernation. It is going to take some positive economic data…to stem the flow in the short term,” an analyst told the Journal

Filed under: business news 
  1. glamsandwich reblogged this from theatlantic
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  3. thenelsontwins reblogged this from theatlantic and added:
    EVERYBODY PANIC!!! EVERYBODY FREAK OUT!!! Sob, cry, hide in closet under a bunch of coats. Oh, you’ve already started.
  4. theatlantic posted this