BEIJING (AP) — Global stock markets tumbled Friday amid fears the U.S. may be heading back into recession and Europe's debt crisis is worsening. The sell-off follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.
Oil extended sharp losses to fall below $85 a barrel amid expectations a slowing global economy will undermine demand for crude.
In Europe, major markets fell, adding to losses Thursday. London's FTSE 100 declined 3.5 percent to 5,393.14 and Germany's DAX shed 3.8 percent to 6,172.00. France's CAC-40 lost 2.5 percent to 3,238.80.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
