Global Stocks Pounded, Dollar Hits Record Highs

Greenback soars to 5-year high against the pound

By Jason Farago, Newser Staff

Posted Oct 22, 2008 5:40 AM CDT

(Newser) – Stocks in Asia and Europe dove once again today, with banks leading losses as the continuing economic downturn hit corporate profits. The Nikkei in Tokyo closed down 6.8%, and London's FTSE opened down 2.3% after the Bank of England said that the country is in a recession. Meanwhile the dollar soared to $1.62 against the pound—a 5-year high—and hit new levels against the euro.

The FTSE 100 index of leading British shares fell 3.5 percent in the first half hour of trading Thursday on the London Stock Exchange because of fears of a global recession. (AP Photo/Sang Tan)

Protesters outside the Bank Of England during a demonstration in central London's City financial district, Friday Oct. 10, 2008. (AP Photo/Lefteris Pitarakis)

Passers-by walk past an electronic stock board in downtown Tokyo Wednesday, Oct. 22, 2008. The benchmark Nikkei 225 stock average dropped 265.18 points to close at 9,041.07 in the morning session. (AP Photo/Itsuo Inouye)

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Global Stocks Pounded, Dollar Hits Record Highs

Greenback soars to 5-year high against the pound

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Dollar Hits 2009 Low

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Stocks, Dollar Dive as Bailout Collapses

Markets fall in Asia, Europe; car companies lead declines

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Global Stocks Pounded, Dollar Hits Record Highs

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OTHER STORIES ON OUR RADAR

pound • euro • Nikkei • FTSE • Asian stocks • Bank of England • US dollar • Mervyn King • European stocks

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Dollar Hits 2009 Low

Credit rating fears send greenback falling against pound, euro

Banks Lead Asian Stock Rally

Nikkei rises 4.6% to 6-month high

Stocks, Dollar Dive as Bailout Collapses

Markets fall in Asia, Europe; car companies lead declines

Global Stock Markets Mixed After Obama Win

Asia sees credit thaw, Europe dips on weak earnings reports

Pound Craters After Latest Grim Stats

British currency falls to $1.56 amid recession fears

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?