World stock markets suffer worst ever year

| January 1, 2009 | 1 Comment
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With the global financial crisis and countries entering recession, it’s no wonder world stock markets have suffered their worst year on record.

In London, the FTSE closed yesterday at 4,434 points, at the same point in 2007, it closed at 6,457. The annual decline was the worst since the FTSE was established in 1984.

In particular, banks have suffered badly with HBOS and Royal Bank of Scotland losing around 90% of their value, while Lloyds TSB and Barclays have lost around 70%.

However, nearly all sectors have been hit as a result of the sub-prime mortgage crisis, falling house prices, banks collapsing and retailing giants going bust.

Meanwhile, in New York, the Dow Jones closed up 2.2% but is down nearly 35% for 2008, representing its worst year since 1931.

In Paris, the CAC 40 closed at 3,217.97, an annual fall of 42% and its worst performance for 20 years. Meanwhile, in Germany, shares closed at 4,810.20, 40% down over the year - its second-poorest annual performance in 20 years.

China’s principal stock market in Shanghai closed at 1,820.81 - 65% down over the year, its worst performance ever.

The Hang Seng index in Hong Kong was down 48% on the year, while India’s main index in Mumbai was down 52%.

On the BBC Radio Five Live’s Wake Up To Money programme, analyst Henk Potts of Barclays Wealth, said that in the first quarter of 2009, shares will remain volatile, however things should improve in the second half.

An astounding £9.7 trillion has been wiped off share values throughout the world in 2008.

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  1. lee says:

    hahahaha

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