World stocks fall as Europe debt crisis festers

[Dover]

BANGKOK (AP) — World stocks fell Wednesday after a meeting of Europe's finance ministers failed to stem fears that the euro currency union is hurtling toward a breakup. Banking stocks slumped after some of the world's top financial institutions were slapped with a credit rating downgrade.

European shares headed south in early trading. Britain's FTSE 100 fell 0.8 percent to 5,296.40. Germany's DAX shed 0.7 percent to 5,760.28 and France's CAC-40 lost 0.6 percent to 3,007.73. Wall Street was also headed for a lower opening. Dow Jones industrial futures fell 0.6 percent to 11,501 and S&P 500 futures were 0.6 percent lower at 1,189.40.

Sluggish trading began earlier in the day in Asia, where Japan's Nikkei 225 index dropped 0.5 percent to close at 8,434.61. South Korea's Kospi dropped 0.5 percent to 1,847.51. Hong Kong's Hang Seng dipped 1.5 percent to 17,989.35. Australia's S&P/ASX 200 swung back and forth until settling 0.4 percent higher at 4,119.80.

Mainland Chinese shares plummeted ...


http://www.boston.com/business/markets/articles/2011/11/30/asia_stocks_fall_as_europe_debt_crisis_festers/

[CoffeeCat]

1. Wow! Just two days ago...

...the entire cast and crew of CNBC declares that "Happy Days Are Here Again" because
a ton of Americans went out and shopped on Black Friday. Supposedly, the DOW rose 250+
points because consumer confidence was skyrocketing and Europe was looking fine and dandy.

I think the "actors" on CNBC should just give it up. They look like fools, trying to prop
up a house of rotting cards.

[Dover]

3. They are the band on the Titanic...n/t

[golfguru]

4. Stocks gaining big on Thursday, world wide.

I am getting ready to cash out.

[Dark]

2. This will continue until the ECB acts as a lender of last resort. Which it said won't happen.

So, we're fucked.