US market indices go down

US market indices go down
# 18 November 2008 08:57 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Most world stock markets fell Monday after Citigroup Inc. said it would cut another 53,000 jobs around the world to deal with the fallout from the financial crisis. The Dow fell 223.73, or 2.63 percent, to 8,273.58, near its lows of the session.
Standard & Poor’s 500 index fell 22.54, or 2.58 percent, to 850.75, while the Nasdaq composite index dropped 34.80, or 2.29 percent, to 1,482.05.
European stock markets closed sharply lower, following a mixed performance in Asia. In London, the FTSE 100 lost 2.38 percent, the Paris CAC 40 shed 3.32 percent and Frankfurt’s DAX lost 3.25 percent.
In Asian trading, Japan’s Nikkei index rose 0.71 percent, despite a report showing the second-straight quarterly decline in gross domestic product — signaling a recession. Hong Kong’s Hang Seng Index fell 0.10 percent.
The dollar fell against most other major currencies, and gold prices also declined.
Light, sweet crude closed at a 22-month low, falling $2.11 to settle at $55.49 a barrel on the New York Mercantile Exchange.
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