InfoAnda - Obama victory sparks profit-taking in US, Europe

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Witness: In an Ivory Coast hotel, bunker down and hope | | 8 April 2011
Darfur rebel infighting drives 10,000 from their homes | 5 February 2010
Twitter blocks neo-Nazi group's messages in Germany | | 18 October 2012

Yemen violence worsens as suicide bomber kills 90 | | 21 May 2012

">Forum Views () ">Forum Replies ()

Read more with google mobile : Obama victory sparks profit-taking in US, Europe

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Obama victory sparks profit-taking in US, Europe AFP - Thursday, November 6 NEW YORK (AFP) - - A global stock rally faltered and Wall Street fell hard Wednesday as investors buckled down for a gloomy economic ride after the euphoria of Democrat Barack Obama's US presidential election victory. Dealers said gains made Tuesday on hopes for fresh efforts to tackle the global financial crisis were surrendered quickly on Wall Street and in Europe although Asia did better despite signs of gathering economic problems. In New York, the Dow Jones Industrial Average plummeted 486.01 points (5.05 percent) to close at 9,139.27. The tech-heavy Nasdaq slumped 5.53 percent to 1,681.68 and the Standard & Poor's 500 index slid 5.27 percent to 952.77. The market action wiped out massive gains from the strongest Election Day rally in history Tuesday as investors hoped that a new president would bring relief from the global financial crisis. The Dow had surged 3.28 percent and the Nasdaq added 3.12 percent. Michael Townsend at Charles Schwab & Co. said Obama and the Democratic leaders in Congress will have no easy solutions to the current malaise. "In 10 weeks, Barack Obama will assume the presidency. But the newly elected leaders will be facing a perfect storm of bad news: an economy in recession, a financial crisis that has spawned an ever-expanding role for government in our financial system, wars in two countries, and a budget deficit of staggering proportions," he said. "The feel-good factor which may have been generated ... from the historic nature of Obama's victory is unlikely to filter through to financial markets," said Martin Slaney, head of derivatives at financial spread betting group GFT in London. "Given the much bigger economic picture there is little chance of a post-election rally," Slaney said. In Europe, London's FTSE 100 index of leading shares shed 2.34 percent at 4,530.73. In Paris, the CAC 40 index fell 1.98 percent to 3,618.11 and in Frankfurt, the DAX lost 2.11 percent to 5,166.87. World leaders hailed Obama's historic triumph but there were also calls for the global superpower to change the way it does business. European Commission president Jose Manuel Barroso called for the election to usher in a "new deal" between the United States and the rest of the world to tackle the global financial crisis and other troubles. "Back to the realities of financial world and it seems that the euphoria didn't last that long with stock markets around the globe peering into what they increasingly believe will be a long and protracted period of global recession," said Howard Wheeldon, senior strategist at BGC Partners. Up to Obama's inauguration on January 20, "there is unlikely to be much if any positive economic news ... despite (government efforts) ... there is unlikely to be much good news around to provide cheer for quite a while," Wheeldon said. After the strong technical bounce of the past few days, "we now move into a period when markets are likely to do little more than move sideways with the odd upward and downward blip," he said. Dealers noted that investors across Europe were anticipating further cuts to interest rates on Thursday by both the Bank of England and the European Central Bank to give the economy another boost. Some economists are forecasting the BoE to follow up last month's emergency half-point reduction to 4.50 percent with a cut of one percent this time around given the deterioration in the economic outlook. Economists expect a cut of half a percentage point to 3.25 percent by the ECB. Late last month, the US Federal Reserve slashed its key lending rate by a half point to match a historic low of 1.0 percent. Other markets followed Wall Street lower: Brazil's Bovespa slid 6.03 percent and the Toronto S&P/TSX index lost 2.27 percent. In Asian trade earlier, however, Tokyo ended with a gain of 4.46 percent, Hong Kong jumped 3.2 percent and Sydney rose 2.9 percent. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Copper ends lower amid renewed economic concernsReuters - Thursday, November 6 Huge buying opportunity in emerging markets-van AgtmaelReuters - Thursday, November 6 Canada calls for Chinese exchange rate flexibilityReuters - Thursday, November 6 Isuzu may buy part of GM's mid-size truck ops-NikkeiReuters - Thursday, November 6 US STOCKS-Futures lower as economic worries weighReuters - Thursday, November 6 Enlarge Photo Obama victory sparks profit-taking in US, Europe Most Popular – Business Viewed Obama wins US election, to become first black president US elects Obama as its first black president Stocks, dollar rise as Obama takes White House Obama's grandmother, family 'rock', dies on election eve World tunes in to see Obama win historic US election View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Wednesday, 5 November 2008
Russia to station missiles near Poland | International |
U.S. strike kills wedding party goers: Afghan officials | International |
Karzai urges end to civilian casualties
Spain rejects Bin Laden son's asylum request: interior ministry
US News & World Report to focus on Web
African, Asian join the library of genomics
Rice tries to preserve Mideast peace talks | International |
Microsoft extends helping hand to Internet startups
Afghans allege civilians killed in US-led strike on wedding
IMF approves $16.5 billion loan for Ukraine | International |
Bush praises Obama, promises smooth handover
CNN 'beams up' virtual correspondent
Russian leader blasts US, vows to deploy missiles near EU
Thousands flee Congo clashes, Goma ceasefire holds | International |
UN climate chief seeks Obama input in December talks
New Caribbean tropical depression threatens Cuba | International |
Medvedev proposes longer presidential mandate
British PM Brown faces election test in Scotland | International |
Bush promises smooth transition to Obama
Mexico says minister plane crash appears accident | International |
Mexico air crash toll rises to 13
Obama carries heavy burden after landslide win
Bhutan gets young king to guide young democracy | International |
Air strikes killed about 40 civilians: Afghan president
Teens killed when man drives truck into China school | International |
Russian leader blasts US, vows to deploy missiles near EU
F1 champion Hamilton gets royal seal of approval
Dutch backpacker defies politics to invest in Iran | International |
UN climate chief seeks Obama input in December talks
Africa, and world, celebrate Obama victory
NZ regulator to inquire into mobile services
Google pulls out of search ad deal with Yahoo | Technology |
Obama victory sparks profit-taking in US, Europe
UBS sees wireless growth slowing in 2009 | Technology |
Taiwanese protest Chinese envoy
Hundreds protest Chinese envoy in Taiwan
Pity the Bluetooth headset this holiday season | Technology |
World hails Obama's victory, urges change of tack
Indian filmmaker B.R. Chopra dies
Palm shares sink on worries about capital | Technology |
Iraq: No hasty change in US policy with Obama win
India's FDI up 259 percent in September
Pakistan auction signals rise in discount rate
Asians uneasy over Obama trade stance
Russia's MICEX jumps 13 pct after long weekend
AMD lays off 500 people worldwide | Technology |
Sanyo's quarterly profit drops 67 percent
U.S. probes cable pricing ahead of switch to digital | Technology |
S.Korea to ease banks capital rules for SME lending
Gates urges rich countries not to cut health aid | Technology |
Video games to become UK's top entertainment form | Technology |
Jurassic Park author Michael Crichton dies at 66 | Entertainment |
Obama win makes Oprah weep, DiCaprio proud | Entertainment |
Winehouse's husband released from prison | Entertainment |
France wants bigger slice of Hollywood action
Michael J. Fox sees irony in playing paralyzed man | Entertainment |
Al Franken falls short in Senate bid | Entertainment |
Spears, Coldplay, Duffy vie for MTV Europe awards | Entertainment |
Bernie Mac, Isaac Hayes in Soul Men encore | Entertainment |
Deftones bassist in coma after car crash | Entertainment |
Finland rates Little House on Prairie adults-only | Entertainment |
Israel airstrike imperils Gaza truce with Hamas
Yahoo chief says Microsoft should buy his firm
Stocks slide as US election euphoria fades
Israel's Peres to attend meeting with Saudi king
Barack Obama expected to be first US "Tech President"
New king crowned in Bhutan
China to spend $146 bln on quake reconstruction | International |
'Impeach Obama' groups pop up on Facebook
Among Obama's next challenges: his own security
Suicide bomber kills 6, wounds 12 in Baghdad
Fresh U.S. air raid kills Afghan civilians: officials | International |
Black box found from Mexico crash that killed 14, including minister
Iraqi leaders confident of no hasty US withdrawal
IMF approves 16.4 bln dollar aid for Ukraine
Putin may return to Kremlin in '09: report | International |
Bhutan crowns young king to guide young democracy | International |
World hails Obama's victory, urges change of tack
China points finger at foreign milk products | International |
North Korea resumes normal service with Kim reports | International |
Skeptical Japanese voters long for their own Obama | International |
China official meets Taiwan president amid protests | International |
Two white supremacists charged in alleged Obama plot
SKorean agencies agree fund to stabilise stock market
Activision's Hero strikes right chord | Technology |
S.Korea c.bank under growing pressure to cut rates
Yahoo's Yang says Microsoft deal still best option | Technology |
US military deaths in Iraq war at 4,191
NZ dollar weakens as risk aversion dominates
'Radical' economic stimulus package in China soon: state media
Iran sees US choppers near its frontiers
SKorea rules out renegotiating trade pact with US
Loopt signs licensing deal with Qualcomm | Technology |
Taiwan dlr weakens on stocks, eyes Chen-Ma meeting
Seoul shares extend loss, down 8 percent
Activision posts better-than-expected earnings | Technology |
'Go East': China Inc. recruiting in gloomy London, New York
Korea Hot Stocks- Daum Communications down after Q3 earnings
S.Korean bonds rise, BOK rate decision eyed
Jurassic Park author Michael Crichton dies at 66 | Entertainment |
New Springsteen album due in January: report | Entertainment |
Battlestar Galactica items up for auction | Entertainment |
Ray Davies says Kinks writing new material | Entertainment |
AC/DC album leads pop chart for second week | Entertainment |
Jolly Black giant in Gulliver's Travels | Entertainment |
Australian film makers spark police emergency | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01