Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search


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

Top Scoops Headlines


Mediaversaries: 20 Years Of The Scoop Information Ecosystem

Scoop celebrates its 20th anniversary this month. To celebrate, we are offering 20% off all ScoopPro subscriptions, including the newly launched ScoopPro Citizen service for Citizen readers. More>>


Lyndon Hood: Better Analogies For National Pilfering Budget Data

After the Treasury Secretary's tragically doomed effort provide a metaphorical image for the budget data breach, and the rash of media attempts that followed, we never got an analogy that really covers all the bases. Until now. More>>


Resignation Of Metiria Turei: Were Journalists 'Just Doing Their Job'?

In our research we examined the role of journalism in animating the Turei controversy and the different perceptions of professional journalists and online commentators sympathetic to Turei’s left politics. ... More>>

Gordon Campbell: On The Extradition Of Julian Assange

It isn’t necessary to like Julian Assange to think that his extradition to the US (on the charge of aiding and abetting Chelsea Manning) would be a major injustice... More>>