Tuesday, January 22, 2008

Stocks Plunge Worldwide on Fears of a U.S. Recession


FRANKFURT — Fears that the United States is in a recession reverberated around the world on Monday, sending stock markets from Bombay to Frankfurt into a tailspin and puncturing the hopes of many investors that Europe and Asia will be able to sidestep an American downturn.
On a day when United States markets were closed in observance of Martin Luther King’s Birthday, the world’s eyes were trained nervously on the United States. Investors reacted with what many analysts described as panic to the multiplying signs of weakness in the American economy.

Shares of banks led the decline in many countries, underscoring that the subprime crisis continues to hobble the global financial system. On Monday, a big German state bank, WestLB, said it would report a loss of $1.4 billion in 2007 because of its exposure to deteriorating mortgage assets.

“There is indeed some panic,” said Thomas Mayer, the chief European economist at Deutsche Bank in London. “What we’re seeing, in Europe and Asia, is that the markets are pricing in a recession.”

Find this article here: http://www.nytimes.com/2008/01/21/business/22stox-web.html?ref=worldbusiness


Akin said...

You probably read this and said, "What the heck? Not my cup of tea." Well you better believe it, it is your tea big time. The stage is being set for the end of time and the coming of the anitchrist. Events like this one are what would make the world receieve with open arms the Beast and its mark.

"...And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six." Rev 13:17-18.

XtianDoctrine said...

What we have here is the beginnging of the fulfilment of prophecy. He who has ears let him hear.