UPDATED: US stocks down
- Published: 23/09/2011 at 01:59 AM
- Online news:
World stocks and commodities tumbled on Thursday as weak data from China crystallised investor fears of a global recession one day after a grim economic outlook from the US Federal Reserve.
UPDATED: US stocks plunge
Stocks tumbled more than 4 per cent and commodities took a beating. The US dollar climbed to a seven-month high against major currencies as investors fled risky assets.
There was a pushback early Friday Thailand time in response to headlines that suggest that the European Union is looking to recapitalise 16 banks. But at 2am, the Dow Jones index was off by 428 points at 10,696.85
Weak data from Germany and China helped push investors to the safety of US government bonds, where benchmark yields again touched lows not seen in 60 years.
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