Following the US Senate's failure to pass an auto industry bailout bill, Asian stocks nosedived, dragging the dollar to a 13-year low against the Japanese yen.
REUTERS - Asian stocks fell sharply on Friday after failure to find a compromise on a $14 billion carmaker bailout in the U.S. Senate put the industry in jeopardy, pushing up
Asian shares had already been under pressure before the auto industry news because of unease about the shrinking financial sector and economic malaise, which doused the bargain hunting that had helped to drive up shares in the last week.
"It shouldn't come as a surprise that Asian equity markets are selling off today on news of the
The MSCI index of Asia-Pacific stocks outside
Shares of Toyota Motor Co were off 10 percent and Honda Motor Co off 13 percent as investors bailed on any firm remotely connected with
The dollar fell to below 90 yen, its lowest in 13 years.
The yield on the benchmark 10-year note, which moves in the opposite direction of the price, slipped to 2.54 percent, down 8 basis points from late
Date created : 2008-12-12