Yet another “global crisis” harbinger or just an “unfortunate week” for world stock exchange markets? We’ll see it soon.

clipped from abc.net.au

World markets rattled amid Dow Jones crash

Fear has gripped global financial markets again, with the latest jolt emanating from Paris, where one of France’s leading banks has revealed a deteriorating exposure to the US subprime mortgage problems.

BNP Paribas says it has suspended three investment funds exposed to the US property market.
There have also been rumours that the German lender, WestLB, has problems.
Stock markets across Europe fell in the order of 2 per cent.
London’s FT100 index dropped 123 points to 6,271, in a slide of 1.9 per cent.
The European shake-out has had a bigger impact on Wall Street.
On the New York Stock Exchange, the Dow Jones industrial average was hammered, plunging 387.18 points (2.83 per cent) to close at 13,270.68.

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