Don't miss

Replay


LATEST SHOWS

THE DEBATE

Davos Debate: Getting a fair share from multinationals

Read more

THE DEBATE

Davos Debate: Getting a fair share from multinationals (part 2)

Read more

EYE ON AFRICA

Adama Barrow sworn in as President, Ecowas forces enter Gambia

Read more

BUSINESS DAILY

DAVOS 2017: Trump 'could hit the ball out of the park'

Read more

BUSINESS DAILY

DAVOS 2017: May's Brexit plan 'not realistic'

Read more

THE DEBATE

Showdown in Gambia: Foreign troops at border as Jammeh refuses to go (part 1)

Read more

THE DEBATE

Showdown in Gambia: Senegalese troops enter Country as Jammeh refuses to go (part 2)

Read more

PEOPLE & PROFIT

Davos 2017: Global leaders try to understand populist surge

Read more

BUSINESS DAILY

DAVOS 2017: What next for the global healthcare industry?

Read more

Markets trim losses after global rate cuts

Latest update : 2008-10-08

Coordinated interest rate cuts from central banks across the world helped stock markets trim deep losses on Wednesday, but failed to erase the downward trend. Nevertheless, Wall Street looked set for a positive start.

LONDON, Oct 8 (Reuters) - Stock markets trimmed deep losses on Wednesday after coordinated interest rate cuts from central banks across the world and Wall Street looked set for a postive start.

Cuts from the U.S. Federal Reserve, European Central Bank, Bank of England and People's Bank of China, among others, were designed to inject confidence into markets reeling from the worst financial crisis in nearly 80 years.

The moves helped pare back the steep losses that were sweeping the world earlier, but failed to erase the downward trend.

MSCI's benchmark world index was down 2 percent compared with losses of 2.9 percent when the cuts were announced.

The pan-European FTSEurofirst 300 was down 1.4 percent some 10 minutes after the move compared with losses of around 3.8 percent beforehand.

Date created : 2008-10-08

COMMENT(S)