Global Stocks Again follow Wall Street’s Plunge

(From CBS News)

Global stock prices sank Friday after the Dow Jones industrials on Wall Street plummeted more than 1,000 points, deepening a week-long sell-off.

Markets followed U.S. stocks down after the Dow, coming off a record high, entered a correction – or a 10 percent decline from its latest peak – for the first time in two years.

In early trading, France’s CAC 40 lost 0.4 percent to 5,144.35, adding to Thursday’s 2 percent decline, and London’s FTSE 100 shed 0.3 percent on top of the previous day’s 1.5 percent retreat. Germany’s DAX was unchanged.

Asian markets fell more sharply. The Shanghai Composite Index tumbled 5.5 percent before ending the day down 4 percent at 3,129.85. Tokyo’s Nikkei 225 lost 2.3 percent to 21,382.62 and Hong Kong’s Hang Seng retreated 3.1 percent to 29,507.63.

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