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NEWSFLASH: US Share Markets Bounce Back Monday

US share markets have bounced back strongly this morning (Monday in the US).

After initially falling 25 points on open the leading Dow Jones Industrial indice has closed on 10583 up 277 points (2.7%).

The Nasdaq too had a rough ride initially falling 92 points before climbing back strongly to close on 3539 up 218 points (6.6%).

The Standard and Poors also rose strongly closing on 1401.4 up 45 points (3.31%).

Overnight European Bourses followed in the wake of the chaos in Asian Markets yesterday and at one stage most leading indices were down around 4%. On close however the losses in Europe had softened a little.

The UK's FTSE100 ended down 2.97%, France's CAC closed down just 0.1%, Frankfurt's DAX closed down 0.4%.

At this stage the markets worst hit in this latest share market "correction" have been the same ones hit between 1997 and 1999 during the Asian Economic Crisis.

In Asia yesterday's losses were huge:
- Japan's market fell 7%
- South Korea's market fell 11.6%
- Hong Kong fell 8.6%
- Malaysia fell 6%
- Singapore fell 8.7%
- Indonesia fell 5%

In Central and Eastern Europe:
- Czechoslovakia's market fell 4.7%
- Greece's market fell 9.2%
- Russia's market fell 8.5%
- Turkey's market fell 6.1%

Some bounceback is expected in these markets today but if the history of 1997, 1998 is any guide the losses will linger longer in these markets than in the stronger Western markets.

© Scoop Media

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