Markets Crater in Asia, Open Off in Europe
May 7, 2012 by Douglas A. McIntyre
Fears that new leaders in France and Greece will repudiate austerity and urge other nations in Europe to do so as well pushed Asian stocks deeply lower.
The Nikkei fell 2.78% to 9,119 as concerns about the value of the yen and euro exploded. The Hang Seng dropped 2.74% to 20,511.
At the open in Europe, the FTSE 100 was off 1.93% to 5,655. The DAX 30 fell 1.83% to 6,440. The CAC 40 in France was down 1.46% to 3,116.
France’s new President François Hollande has said he will reverse austerity measures across Europe in defiance of decisions made with the leadership of Angela Merkel of Germany.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.