Friday, October 10, 2008


European markets fell more than 10 percent at their opening but were coming off their lows later.

In morning trading, the DJ Euro Stoxx 50 index, a barometer of blue chips in the euro zone, was down 8 percent. The FTSE 100 index in London was down 6.2 percent, he CAC-40 in Paris was down 7.2 percent and the DAX in Frankfurt was down 7.9 percent.

Japan’s Nikkei 225 stock average — which fell nearly 10 percent on Wednesday — slumped 9.6 percent on Friday, closing at 8,276.43.

The Hang Seng index in Hong Kong fell 7.2 percent on Friday, while the ASX/200 index in Sydney closed 8.3 percent lower.

In Seoul, the Kospi index fell 4.1 percent. The Shanghai composite index fell 3.6 percent, giving it a loss for the week of about 15 percent. The Indonesian stock exchange suspended trading for a third day, and exchanges in Bangkok and Vienna halted trading after shares fell more than 10 percent, triggering circuit-breaker rules.

In Moscow, the Russian Duma, or lower house of Parliament, approved a financial sector bailout package valued at more than $80 billion. Trading on Russian stock exchanges was suspended until further notice.

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