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05.26.10 Spanish, Korean Predicaments Send Stocks Lower  By Doug CaverlyIt's a good bet that a lot of boats, trains, and planes are delivering shipments of antacids this week. Mounting problems in Europe and Korea have conspired to damage financial markets all over the world, with many major indexes hitting levels not seen in six or more months. At the time of this writing, the Dow and the S&P 500 are about at seven-month lows. Then the Nasdaq's at more of a three-and-a-half month low, which is still pretty bad. Meanwhile in Europe, the UK's FTSE is down 2.9 percent, Germany's DAX has lost 3.0 percent, and France's CAC 4.0 has fallen 3.7 percent. And at the same time in Asia, China's Shanghai Composite has slipped 1.9 percent, Japan's Nikkei has declined 3.1 percent, and Hong Kong's Hang Seng is even worse off, having lost 3.5 percent. Let's hope the banking situation in Spain and the military buildup in Korea are resolved soon (and without incident). It's starting to look like a second global recession - or worse - could occur otherwise, considering that we're already seeing such steep losses. One piece of good news that became public this week is the fact that U.S. consumer confidence is up this month, at least. About the Author: Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news. |
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