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Stocks in overseas market plunged today at the greatest rate since 9/11, as investors expressed concern about a U.S. recession and world financial crisis. Major indices in France were down 6.8 percent, Germany 7.2%, UK 5.5%, Toronto 4.7%, Mexico 4.8%, and Brazil 6.6%. The U.S. market was closed to honor Martin Luther King, but the Dow Jones Industrial Average futures are down 449 points and Standard & Poor's 500 futures are down more than 4 percent. Rumors are sweeping financial centers that the U.S. Federal Reserve will hold an emergency caucus and cut short term interest rates sharply before Tuesday morning's market opening.
Stocks in overseas market plunged today at the greatest rate since 9/11, as investors expressed concern about a U.S. recession and world financial crisis. Major indices in France were down 6.8 percent, Germany 7.2%, UK 5.5%, Toronto 4.7%, Mexico 4.8%, and Brazil 6.6%. The U.S. market was closed to honor Martin Luther King, but the Dow Jones Industrial Average futures are down 449 points and Standard & Poor's 500 futures are down more than 4 percent. Rumors are sweeping financial centers that the U.S. Federal Reserve will hold an emergency caucus and cut short term interest rates sharply before Tuesday morning's market opening.