With the escalating fear of the financial situation of the banks, the investors start to buy the relatively safe US dollar. Some companies also start to cut their dividends. This two factors caused a dramatic fall in the global markets. The Dow Jones Industrial Average fell below 7000 for the first time in recent 12 years. FTSE 100 in London also went to its lowest in six years.
Very depressing news! A head of equities at a brokerage says that the outlook of the global markets will become more pessimistic if the markets can't rebound very quickly.
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