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MONDAY, NOVEMBER 23, 2009
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Global Stocks Skid Amid Recession Fears

New rash of selling in Europe and Asia despite mammoth bailout packages

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(Newser) – The global market rally lost steam today as fears of a deepening recession prompted investors to resume looking for cover after profit taking—despite more than $2 trillion being pledged by governments to help thaw frozen credit markets, reports Bloomberg. Markets closed lower in Hong Kong, Seoul and Sydney. London, Frankfurt, Paris, Madrid and Zurich all were down in early trading.

A Filipino trader looks at the graph on a computer at the Philippine Stock Exchange in the financial district of Makati, south of Manila, today.
A Filipino trader looks at the graph on a computer at the Philippine Stock Exchange in the financial district of Makati, south of Manila, today.   (AP Photo/Aaron Favila)
An investor stands in front of the stock price monitor at a private securities company in Shanghai, China.
An investor stands in front of the stock price monitor at a private securities company in Shanghai, China.   (AP Photo)
Investors speak in front of the stock price monitor at a private securities company today in Shanghai, China.
Investors speak in front of the stock price monitor at a private securities company today in Shanghai, China.   (AP Photo)
Screens show the falling share price as a South Korean investor sits at the Korea Stock Exchange in Seoul today.
Screens show the falling share price as a South Korean investor sits at the Korea Stock Exchange in Seoul today.   (AP Photo/Ahn Young-joon)
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