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    Pacific markets tumble after Wall Street rout

    WELLINGTON, New Zealand (AP) — Pacific stock markets are down sharply in early trading following big losses on Wall Street amid growing fears of another global recession.

    In early trading Friday, Australia's S&P/ASX 200 index was down 66 points, or 1.7 percent, at 3,899. The Australian dollar also tumbled below parity with the U.S. dollar and is trading at its lowest level in about eight months as investors seek safe havens.

    New Zealand's NZX 50 index was down 58 points, or 1.8 percent, at 3,254. Financial markets in Japan are closed Friday for a national holiday.

    In New York on Thursday, the Dow Jones industrial average lost 391 points and at one point was down more than 500.

     

    2 comments

    • Publius Americanus  •  5 mths ago
      It Is Now a Good Time for OBAMA to announce he will NOT SEEK RE-ELECTION.
    • Publius Americanus  •  5 mths ago
      OBAMA to give major address to the nation ... this will ensure another 500 point drop in the DOW ...
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    • HP logo is seen outside Hewlett-Packard Belgian headquarters in Diegem
      HP shares fall on sharp profit decline

      (Reuters) - Shares of Hewlett-Packard Co were down 2 percent in premarket trading on Thursday after the world's No. 1 computer maker posted a sharp decline in quarterly earnings and warned it would take … More »HP shares fall on sharp profit decline

      HP logo is seen outside Hewlett-Packard Belgian headquarters in Diegem

      (Reuters) - Shares of Hewlett-Packard Co were down 2 percent in premarket trading on Thursday after the world's No. 1 computer maker posted a sharp decline in quarterly earnings and warned it would take several years to turn around its sprawling businesses. The storied Silicon Valley company, which has been trying to move …

     
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