World stock fall sharply again on Wednesday

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Source: CCTV.com | 10-23-2008 08:40

Stock markets around the world fell sharply again on Wednesday as concerns about economic recession and falling commodity prices were fueled further by a fresh spate of gloomy corporate earnings.

Traders work on the floor of the New York Stock  Exchange (NYSE) moments after the opening bell in  New York City.(AFP/Getty Images/Spencer Platt)

In Europe, Britain's FTSE 100 was down 2 percent in morning trading. Germany's DAX declined 2.6 percent.

In Asia, Japan's Nikkei average fell for the first time in three days, dropping 6.79 percent.

Hong Kong's Hang Seng sank 5.2 percent, while South Korea's main index shed 5.1 percent. In China, the benchmark Shanghai Composite Index fell 3.2 percent.

Wall Street also looked set for a lower opening, as mounting concern that the global economy is hurtling toward recession diminished investors' appetite for risk.

Editor:Zhang Pengfei