Global stock markets knocked after weak US data
Global stock markets have lost ground today after worse-than-expected weekly jobless numbers from the US yesterday.
Furthermore, Tokyo shares were down as speculation mounted that the Bank of Japan would hold an emergency meeting to discuss the strength of its currency, the yen.
The yen has hit a 15-month high against the dollar – fuelling concerns about the impact on exporters.
Tokyo’s Nikkei closed 2% down at 9179.38. Furthermore, Hong Kong’s Hang Seng and the Shanghai composite were both about 1% down.
Meanwhile, European stocks were down this morning – following the falls in Asia. The weak US jobs data has, once again, fuelled concerns of a double-dip recession in the world’s largest economy.