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The Collective
Friday, October 24, 2008
By Dr. Steven Taylor

Via the BBC comes news that European markets are all down substantially in trading today: Shares plummet on recession fears

European share markets have all fallen sharply on renewed recession fears, following an earlier sell-off in Asia.

London’s FTSE index plunged 7% after figures confirmed Britain’s economy shrank 0.5% in the last quarter - the first time in 16 years.

If I cut-and-pasted all of the down indicators, I would basically be posting the entire BBC piece. So for more details, follow the link.

Of course, all of this means a bad day on Wall Street as well. Via the AP: Stocks head for sharp decline on recession fears

Wall Street headed for another precipitous drop Friday as fears of a punishing global recession stirred panic among investors and sent world financial markets into a tailspin. The Dow Jones industrial average futures were down 550 points, triggering a freeze in selling.

The Nikkei was down 9.60% on word of poor earnings reports.

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