Thursday, November 20, 2008

IT DOESN'T seem to end, does it:
European stock markets quickly slipped into negative territory Thursday following similar tumbles across Asia a day after Wall Street finished at its lowest point since spring 2003 on concerns over ailing U.S. auto industry.
General Motors' headquarters. Concerns over the U.S. auto industry's future has added to economic uncertainty.

Major markets in London, Paris and Frankfurt were all down 1 to 3 percent. But the selloff was more brutal in Asia and Pacific markets, where Tokyo's Nikkei index shed 6.9 percent on Thursday.
UPDATE. Uh oh: a graphic comparison between four bad bear markets. So far it's going worse than '29 (via Spanish blogger Jorge Valín)