WORLD Global stocks tumble amid rising US interest rates


Global stocks tumble amid rising US interest rates

People's Daily app

13:22, October 11, 2018

Asian markets plunged Thursday morning following the worst session on Wall Street for months, as US President Donald Trump said the Federal Reserve had "gone crazy" with plans for higher interest rates.


(Photo: File Photo)

Tokyo, Hong Kong and Shanghai all plummeted around four percent in morning trade.

Taipei led the rout with a six percent plunge while the Shenzhen Composite Index, which tracks stocks on China's second exchange, was down 5.2 percent.

Seoul fell more than three percent and Sydney and Singapore both dropped two percent.

The steep drop in Asia followed Wednesday's plunge in New York, with the Dow Jones dropping nearly 830 points -- the biggest fall since February -- after Trump's latest criticism of the Federal Reserve.

The following are the indices of major stock markets worldwide on Thursday.

In Asia

The Shanghai Composite Index opened at 2,643.07 points, down 82.77 points, or 3.04 percent.

The Shenzhen Component Index opened at 7,753.03 points, down 257.66 points, or 3.22 percent.

The Hang Seng Index opened at 25,392.90 points, down 800.17 points, or 3.05 percent.

The S&P/ASX 200 index opened at 6049.80 points, level with previous close.

The 225-issue Nikkei Stock Average opened at 23,043.37 points, down 462.67 points, or 1.97 percent.

The Straits Times Index opened at 3,074.77 points, down 56.71 points, or 1.81 percent.

The Korea Composite Stock Price Index opened at 2,176.16 points, down 52.45 points, or 2.35 percent.

In the United States

The S&P 500 Index closed at 2,785.68 points, down 94.66 points, or 3.29 percent.

The Dow Jones Industrial Average closed at 25,598.74 points, down 831.83 points, or 3.15 percent.

The Nasdaq Composite Index closed at 7,422.05 points, down 315.97 points, or 4.08 percent.

In Europe

The DAX Index closed at 11,712.50 points, down 264.72 points, or 2.21 percent.

The FTSE 100 Index closed at 7,145.74 points, down 91.85 points, or 1.27 percent.

The Paris CAC 40 closed at 5,206.22 points, down 112.33 points, or 2.11 percent.

(With input from Xinhua, AFP; compiled by Wang Zi, He Jieqiong and Han Xiaomeng)

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