It seems that the worldwide financial crisis is not going to end soon. The US government had approved a $700bn bail-out plan but President Bush had warned that this crisis will not end soon. It will take some time to settle down. The US Treasury Secretary said a few days ago that more banks could collapse in the coming days.
The effects of the financial crisis are being felt in stock markets around the world. In a recent development Stock markets in Europe have fallen sharply after a dramatic fall in share prices in Asia. The FTSE 100 index went down by 5.4% at 4077 points. It opened at 3887 points below the 4000 point level for the first time in last five years. There were similar fall in other countries of Europe as well. The cut in interest rate and injection of huge cash by central banks has not been able to stop this mayhem in the markets.
It seems that the worldwide financial crisis is not going to end soon. The US government had approved a $700bn bail-out plan but President Bush had warned that this crisis will not end soon. It will take some time to settle down. The US Treasury Secretary said a few days ago that more banks could collapse in the coming days.
The effects of the financial crisis are being felt in stock markets around the world. In a recent development Stock markets in Europe have fallen sharply after a dramatic fall in share prices in Asia. The FTSE 100 index went down by 5.4% at 4077 points. It opened at 3887 points below the 4000 point level for the first time in last five years. There were similar fall in other countries of Europe as well. The cut in interest rate and injection of huge cash by central banks has not been able to stop this mayhem in the markets.
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