Sunday, August 07, 2011
$3trillion wiped off value of shares in 'week from hell' for world economy
Last updated at 3:53 PM on 6th August 2011
Financial markets across the world closed for business last night with losses of nearly $3tn (£1.8tn) following a turbulent week of selling not seen since 2008.
It was at that time three years ago that the biggest City bankers had to call on the government for help and the global economy was gripped in the middle of its worst recession since the 1930s.
One analyst described the past seven days as the week from hell. London has seen hundreds of billions of pounds wiped off in share prices.
In the US, Wall Street was experiencing losses of $2tn or more after a fortnight of frantic selling.
Depressing prospects: Traders on the floor of the New York Stock Exchange monitor the changes in figures
Subscribe to Posts [Atom]
