World Markets Dump In Reaction to Bush’s “Stimulus Plan”

by on January 21, 2008 · 0 comments

in World News

(Associated Press) LONDON – Stocks fell sharply worldwide Monday in reaction to President George W. Bush’s “stimulus plan” and to last week’s declines on Wall Street – blamed on “investor pessimism” over the U.S. government’s stimulus plan to prevent a recession.

U.S. markets were closed for Martin Luther King Jr. Day, but the downbeat mood from last week’s market declines there circled through Europe, Asia and the Americas. Britain’s benchmark FTSE-100 slumped 5.5 percent to 5,578.20, France’s CAC-40 Index tumbled 6.8 percent to 4,744.15, and Germany’s blue-chip DAX 30 plunged 7.2 percent to 6,790.19.

In Asia, India’s benchmark stock index tumbled 7.4 percent, while Hong Kong’s blue-chip Hang Seng index plummeted 5.5 percent to 23,818.86, its biggest percentage drop since the Sept. 11, 2001, terror attacks.

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