Markets in Asia and Europe have sold off sharply overnight due to rising concern that the credit markets will get much worse.
The Nikkei was off 2.5% to 13,033. Sony (NYSE:SNE) was down 4.1% to 4420 yen.
The Hang Seng was down 3% to 21,255. China Life (NYSE:LFC) was down 3.9% to 25.90 yuan. China Unicom (NYSE:CHU) was off 3.9% to 14.34
The FTSE opened down 2.6% to 5,368. Barclays (NYSE:BCS) was down 3.5% to 272.25 pence. Many other European banks stocks traded down over 4%.
Data from Reuters.
Douglas A. McIntyre is an editor at 247wallst.com.
Is the market always right?
Comfort Zone Investing: How this all might play out
Stock picks and pans for troubled times: AAPL, COST, EWBC, IBM, YUM, PG ...
