Asian stocks decline on Europe worries

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/Reuters

Asian equities dropped sharply on Friday as EU summit failed to ensure full support from the 27 region's countries on tighter fiscal policy. Hong Kong's Hang Seng Index fell 2.5% and Shanghai Composite index gave up 0.6%. Australia's S&P/ASX 200 index plunged 2.2%, Japan's Nikkei Stock Average declined 1.6% and South Korea's Kospi edged down 1.7%.

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Fri, 09 Dec 2011 07:44:51 GMT

US stocks fall amid European summit

US shares started to decline in afternoon trade after Dow Jones disclosed details of draft plan, however, stock indexes plunged even further as Reuters reported that Germany opposed several measures in draft proposal. Standard & Poor's 500 sank 2.1% or 26.66 points at 1,234.35 whereas Dow Jones Industrial Average lost 1.6% or 198.67 points to 11,997.70. Nasdaq Composite traded down 2% or 52.38 points to 2,596.38. 

Fri, 09 Dec 2011 07:05:38 GMT

Europe to increase financial support for combating with crisis

Financial resources are going to be increased in order to support members in handling the recession, said Herman van Rompuy, European Council President. The euro-area and other countries will attempt to raise additional resources for the IMF up by 200 billion euros. The EFSF will also be expanded, he added.

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