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World Markets Mixed: 'Fasten Your Seatbelts'

US turmoil continues to roil world's market; central banks act to insure liquidity

By Jim O'Neill,  Newser User

Posted Sep 18, 2008 5:34 AM CDT
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(Newser) – A huge cash injection into global money markets by central banks and the buyout of British lender HBOS by Lloyds-TSB eased some investor worries and pushed European stocks slightly higher today, reports the New York Times. But concerns about the ongoing crisis in the US continued to batter Asian stocks and prompted Russian exchanges to suspend trading until tomorrow.

“People are still very, very nervous,” said one expert. While European markets edged up slightly, concerns that a tight global credit market would worsen drove Asian markets down sharply, especially across the banking sector. Investors dumped stocks for safe havens like gold and Treasury bills, fearing banks would simply stop lending altogether.

Investors look at the share index at a private stock market gallery in Kuala Lumpur, Malaysia, Thursday, Sept. 18, 2008. Asian stocks tumbled Thursday.
Investors look at the share index at a private stock market gallery in Kuala Lumpur, Malaysia, Thursday, Sept. 18, 2008. Asian stocks tumbled Thursday.   (AP Photo/Lai Seng Sin)
A trader monitors the electronic board showing a downtrend during the trading day at the Philippine Stock Exchange Thursday, Sept. 18, 2008 in Manila's financial district of Makati.
A trader monitors the electronic board showing a downtrend during the trading day at the Philippine Stock Exchange Thursday, Sept. 18, 2008 in Manila's financial district of Makati.   (AP Photo/Pat Roque)
Traders gesture a thumbs down as the electronic board shows a downtrend at the trading floor of the Philippine Stock Exchange Thursday.
Traders gesture a thumbs down as the electronic board shows a downtrend at the trading floor of the Philippine Stock Exchange Thursday.   (AP Photo/Pat Roque)
An electronic board shows share index at a private stock market gallery in Kuala Lumpur, Malaysia. Asian stocks tumbled Thursday.
An electronic board shows share index at a private stock market gallery in Kuala Lumpur, Malaysia. Asian stocks tumbled Thursday.   (AP Photo/Lai Seng Sin)
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Central banks join forces
CNN

World markets react to banking industry struggles
Wall Street Journal

World • Money

 
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