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World market indices drop

02 December 2008 07:44 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Fears about the US and global economic outlook pressured equities. The Dow dropped 679.95, or 7.70 per cent to 8,149.09, while the S&P 500 lost 80.03, or 8.93 per cent to 816.21. The NASDAQ fell 137.5, or 8.95 per cent to 1,398.07.
In Europe, Londonâ€™s FTSE 100 index closed down 5.19 percent, the Paris CAC 40 shed 5.59 percent while Frankfurtâ€™s DAX lost 5.88 percent on the grim news.
Japanese shares lost ground on Monday, as investors remained concerned about the outlook of the US markets. Tech shares were hit particularly hard with traders looking to lock-in last weekâ€™s profits.
The Nikkei 225 lost 115.05 points, or 1.35 per cent to finish at 8,397.22.