World Markets Slide on Growth and Debt Worries
Monday, May 23, 2011 9:35 AM

World Markets were trading sharply lower Monday, on signs of US economic sluggishness and escalating sovereign debt crisis after Italy and Greece slapped with credit downgrades. 

The Asian markets were trading lower with Nikkei 225 losing 146.45 points, or 1.52 percent to 9,460.63 and China’s Shanghai Composite lost 82.94 points, or 2.90 percent to 2,775.52 today. Among other major Asian indexes, Hang Seng was trading lower by 488.37 points, or 2.11 percent, to 22,711.02, while India’s BSE 30 trading at 17,985.05, down 341.04, or 1.86 percent. Singapore’s Straits Times lost 58.06, or 1.83 percent, to 3,110.48 on Monday.

The European market was also trading lower; the biggest loser in the European market was Germany’s DAX, down 132.92, or 1.83 percent, to 7,133.90. Britain’s FTSE 100 lost 101.88 points, or 1.70 percent to 5,847.41, while France’s CAC 40 trading at 3,919.70, down 71.15, or 1.78 percent.

US stock futures also felt the heat from the world market as futures on the Dow Jones Industrial Average fell 129 points, or 1.03 percent to 12,337, while Standard & Poor’s futures lost 13.70 points, or 1.03 percent to 1,314.10. Futures on Nasdaq 100 trading lower by 24.25 points, or 1.03 percent to 2,319.25.