Market drops with financials' view, Bhutto killing
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U.S. stocks dropped on Thursday, led by financial shares' losses after an analyst warned of larger write-offs in the sector, while an assassination in Pakistan sparked fears of global instability.
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Stocks dropped on Tuesday as trouble in the subprime mortgage market fueled selling of financial sector shares and the housing slump took a toll on companies' outlooks.
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Asian stocks fell on Friday as news of the assassination of Pakistani opposition leader Benazir Bhutto and fears over regional political turmoil triggered a flight to less risky assets such as bonds and gold.
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The Dow Jones industrial average dropped almost 200 points yesterday, the worst day for the market in nearly three months, as investors grew increasingly worried about continued economic growth as central banks around the world have increased interest rates to combat inflation.
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Stocks fell on Thursday, hit by losses in financial companies after Bank of America Corp  reported a sharp drop in earnings, stoking concern the credit crunch was dragging on profits and the economy.
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Former Pakistan premier Benazir Bhutto was assassinated by a suicide bomber Thursday, plunging the nation into one of the worst crisis in its history and raising alarm around the world.
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Leading shares gained momentum in late afternoon deals to close higher after the assassination of Pakistan's opposition leader, Benazir Bhutto, reignited geopolitical concerns and sent oil prices to a fresh 1-month high, fuelling oil heavyweight share prices.
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Wall Street stocks were set to fall on Thursday after Benazir Bhutto, Pakistan's opposition leader, was killed in a gun and bomb attack prompting a flight to safety in US markets.
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Indiaâs benchmark stock index dropped 4 percent in the first 10 minutes of trading and Hong Kongâs market slid 4.7 percent by midday.
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Pakistani shares slumped on Monday and the currency hit a six-year low, the first market reaction to the killing of former premier Benazir Bhutto whose death has plunged the country into a political crisis.
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Wall Street stocks had a lacklustre day after MBIA (NYSE:MBI), a bond insurer, revealed billions of dollars in exposure to high-risk securities, causing its shares to drop as much as 30 per cent.
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MANILA (Dow Jones)--Investors wary of inflation and the specter of higher interest rates sold down Philippine assets Tuesday, a day after President Gloria Macapagal Arroyo spooked markets by saying the country is in a &quot;fiscal crisis.
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Buffeted by concerns about a weakening economy, the stock market fell last week after two weeks of gains.
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Tokyo&#39;s Nikkei stock average fell 0.29 percent by midday on Wednesday as investors took a breather from the market&#39;s recent rises and sold shares of gainers such as Sharp Corp.
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Global stock markets fell Friday as the murder of Pakistani opposition leader Benazir Bhutto reverberated around the world, while investors took profits before the year-end.
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Surging Indian inflation has rattled investors, but the country's policy makers are likely to take it in their stride while they assess the impact of an oil shock and erratic monsoon rains on Asia's fourth-biggest economy.
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Stock markets across most of Asia fell Monday following declines on Wall Street last week amid investor pessimism over the U.S. government's stimulus plan to prevent a recession.