Skip to: Content
Skip to: Site Navigation
Skip to: Search
MONDAY, NOVEMBER 23, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


0

World Markets Tumble, Dollar Hits New Low

Euro hits $1.60 as banks lead declines

Share

(Newser) – World stocks hit their lowest level since 2006 today as credit-market losses and weakening consumer confidence sent shares falling, reports Bloomberg. The big banks, from UBS in Europe to Cathay in Asia, led declines. The MSCI World Index, Morgan Stanley's indicator of global finance, has now slid into bear market territory, having lost 21% of its value since October.

Meanwhile the dollar fell to a record low against the euro, climbing back above $1.60. The dollar's recent recovery was erased as the woes of Fannie Mae and Freddie Mac led investors to bail. The greenback took a beating elsewhere: the pound went up above $2 for the first time since April, and in Tokyo the dollar fell below 105 yen.

A broker at the stock exchange in Frankfurt, central Germany, watches trading Tuesday, July 15, 2008. European and Asian stock markets fell sharply Tuesday as investor confidence in the U.S. financial system eroded even further despite a government-backed plan to help beleaguered mortgage financiers Fannie Mae and Freddie Mac....
A broker at the stock exchange in Frankfurt, central Germany, watches trading Tuesday, July 15, 2008. European and Asian stock markets fell sharply Tuesday as investor confidence in the U.S. financial...   (AP Photo/Daniel Roland)
An investor reacts as she looks at the stock price monitor at a private security company Tuesday July 15, 2008, in Shanghai, China.
An investor reacts as she looks at the stock price monitor at a private security company Tuesday July 15, 2008, in Shanghai, China.   (AP Photo)
A woman walks by an electronic stock board in downtown Tokyo Tuesday, July 15, 2008 as Japanese shares fell sharply. The benchmark Nikkei 225 Stock Average lost 255.60 points, or 1.96 percent, at 12,754.56 _ the first time the index has closed below 13,000 since...
A woman walks by an electronic stock board in downtown Tokyo Tuesday, July 15, 2008 as Japanese shares fell sharply. The benchmark Nikkei 225 Stock Average lost 255.60 points, or 1.96 percent, at 12,754.56...   (AP Photo/Itsuo Inouye)
In this February 27, 2008 file photo, euro coins and dollar bills are seen in Frankfurt, central Germany. The U.S. dollar has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency.
In this February 27, 2008 file photo, euro coins and dollar bills are seen in Frankfurt, central Germany. The U.S. dollar has been declining steadily for six years against other major currencies, undercutting...   (AP Photo/Michael Probst, File)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.23.09
Books Are Bad for You
11.20.09
The Health-Care Wars Have Just Begun
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

37 Stories

ANALYSIS

Count the US Dollar Down, But Not Out

Fears of a looming currency crash are overblown

Oct 23, 09 4:25 PM CDT
(Newser) - With the US economy in a prolonged slump and the Fed likely to keep interest rates low for the foreseeable future, many worry that a dollar crash will be the next shoe to drop. Currency pessimists can point to a 6-month decline in the dollar; this week the currency hit... More »

MORE ABOUT:
globalization • currency exchange • yuan • Lehman Brothers • euro • US dollar • weak dollar • financial crisis

 Euro Cracks $1.50, 
 Dollar Hits New Lows 


Investors shun low-yielding greenback for riskier currencies

Oct 22, 09 4:00 AM CDT
(Newser) - The dollar fell below the $1.50 threshold against the euro yesterday for the first time in 14 months, as investors with renewed appetites for risk continue to abandon the greenback. The dollar is at its lowest level against six other currencies in more than a year, and foreign exchange... More »

MORE ABOUT:
currency • exchange rate • euro • US dollar • weak dollar

 Dollar Headed for Biggest 
 Gains Since '81: Bankers 

Greenback set for 17.1% gain against euro

Jun 29, 09 8:24 AM CDT
(Newser) - The dollar is poised for its biggest advances in 28 years, according to Deutsche Bank, which predicts a 17.1% gain against the euro by the end of the year. Other banks polled by Bloomberg are similarly bullish about the greenback, which has just endured its worst quarter since 2002.... More »

MORE ABOUT:
currency • exchange rate • currency exchange • euro • US dollar • weak dollar

37 Stories


Bernanke testimony today could be critical
International Business Times

The perils of Paulson
Washington Post


Business  •  World 
TwitterFollow @NewserBusiness on Twitter

 
financial markets • pound • euro • yen • Asian markets • European markets • US dollar • weak dollar • financial crisis

from our news partners

CinemaBlend.com