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18/01/2006
Worldwide shares hit by Tokyo stock market slump
Worldwide share prices have slumped following a crisis on the Tokyo stock market, which saw the Japanese exchange close 20 minutes early, due to frantic selling amid allegations of fraud at an internet company.
A mass share sell-off at the Nikkei was triggered by reports that internet firm Livedoor is under financial investigation, and this slide was amplified by revelations that both Yahoo and Intel have failed to meet profit expectations. The development means that the Nikkei has fallen by over 6% during the past two days.
The knock-on effect at worldwide exchanges saw Wall Street shares opening sharply down at start of trade on Wednesday, with the Dow Jones index falling 35 points to 10,861, and Nasdaq down 36 points to 2,267.
The FTSE 100 index fell by more than 50 points in the initial hours of trading, giving rise to fears that the strong performance seen by the market in 2005 had run its course.
(CL)
A mass share sell-off at the Nikkei was triggered by reports that internet firm Livedoor is under financial investigation, and this slide was amplified by revelations that both Yahoo and Intel have failed to meet profit expectations. The development means that the Nikkei has fallen by over 6% during the past two days.
The knock-on effect at worldwide exchanges saw Wall Street shares opening sharply down at start of trade on Wednesday, with the Dow Jones index falling 35 points to 10,861, and Nasdaq down 36 points to 2,267.
The FTSE 100 index fell by more than 50 points in the initial hours of trading, giving rise to fears that the strong performance seen by the market in 2005 had run its course.
(CL)
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