THE TELEGRAPH: The Dow Jones below 7,000 for the first time in twelve years on Monday after American International Group posted the largest quarterly loss in US corporate history.
he blue chip index fell 144.8 - or 2pc - to 6918 points within minutes of opening after AIG reported a $61.7bn (£44bn) fourth-quarter loss and the US government said it would give the insurer another $30bn in loans.
This is in addition to the $150bn it has already given the ailing insurer.
Wall Street's concerns about how governments around the world will fix the financial system and global economy have sent stocks to their lowest levels in 12 years.
The Dow Jones industrial average has dropped for six consecutive months, and is worth less than half of its October 2007 record high of 14,164.53.
Investors were also worried about European financial companies.
HSBC, Europe's largest bank by market value, on Monday reported a 70pc drop in 2008 net profit and said it needs to raise £12.5bn and cut 6,100 jobs in the US. >>> By Telegraph Staff | Monday, March 2, 2009
LE FIGARO: La Bourse de Paris chute et retrouve son niveau de 2003
Le CAC 40 clôture en baisse de 4,48% et rejoint son plus bas niveau depuis 6 ans. L'état de santé de l'économie américaine, après la publication d'un PIB décevant, préoccupe les investisseurs.
Journée ordinaire de chute des indices à Paris. Le CAC 40 clôture en forte baisse de 4,48% à 2581 points, plombé par les valeurs financières, dans le rouge vif suite à l'augmentation de capital de la banque HSBC et après l'annonce de résultats jugés décevants. L'indice n'est désormais plus très loin de ses plus bas de mars 2003, lorsque le CAC (analyse technique) flirtait avec les 2400 points. >>> T Dong | Lundi 02 Mars 2009
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