Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

UGANDA: OPPOSITION LEADER IN COURT ON TREASON CHARGES

Read more

MEDIAWATCH

Istanbul's Suffering in the Shadows?

Read more

THE DEBATE

Turkey targeted: Islamic State Group blamed for Istanbul attack (part 1)

Read more

THE DEBATE

Turkey targeted: Terror attack coincides with foreign policy pivot (part 2)

Read more

THE INTERVIEW

" We have a lot that we can do together to make Middle East a better place"

Read more

FOCUS

Will Bolivia see a lithium boom?

Read more

MIDDLE EAST MATTERS

Child refugees: Inside Turkey's hidden sweatshops

Read more

ENCORE!

Film show: 'The Red Turtle', 'Camping 3' and 'The Balkan Trilogy'

Read more

FACE-OFF

After Brexit, is a Frexit possible?

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)