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BUSINESSStocks have worst day in 5 years Stocks on Feb. 27 had their worst day of trading since the Sept. 11, 2001, terrorist attacks on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated. The steepness of the market's drop signaled a possible correction after a long period of stable and steadily rising stock markets. A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading. The Dow began Feb. 27 falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon.
The Japan Times Weekly: March 3, 2007 |
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