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Thread: Citigroup suffers a huge loss and world stock markets trembles

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[quote=KEVIN0518,265678]Yesterday, Citigroup announced that they suffered a great loss of 9.83 billion dollars in the fourth quarter due to the subprime credit crisis, creating a new record in its history. Meanwhile, its shares went down by 7 percent. Influenced by this and a sharp drop of retail in December, those investors are much worried about the prospect of American financial industry and and its economy.

US's stock market suffers a severe fall yesterday. The Dow Jones Index and Standard & Poor's Composite Index dropped 1.6 percent and 2 percent separately. The shares in Paris, London and Frankfurte also went down 1-2 percent. Hong Kong, Singapore, Japan, South Korea, India and Indonesia's stock markets also reduced at least 1 percent. On the other hand, US dollar was continuing to depreciate.

Citigroup also declared to raise 14.5 billion dollars from foreign investors. Another US corporation Merrill Lynch is planning to raise 6.6 billion dollars too.

Confronted with this situation, US might cut the interest rates to stimulate its economy. This is those investors' expectation. What do you think? Will US continue to cut the interest rates?[/quote]

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