A roundup of trading on major world markets:
NEW YORK – US stocks have tumbled on fresh worries about a Greek debt default as US President Barack Obama called on Greece to enact reforms.
The Dow Jones Industrial Average slumped 279.47 points (1.54 per cent) to 17,826.30 on Friday.
The broad-based S&P 500 fell 23.81 (1.13 per cent) to 2,081.18, while the tech-rich Nasdaq Composite Index dropped 75.98 (1.52 per cent) to 4,931.81
Obama said that debt-wracked Greece needs to take action to bring stability to its shaky finances. Uncertainty about Greece has hung over the International Monetary Fund and World Bank spring meetings this week.
LONDON – Europe’s main stock markets slumped as investor worries intensified over the plight of Greece and they took profits after having pushed indices to highs levels, analysts say.
Frankfurt’s DAX 30 index tumbled 2.58 per cent to 11,688.70 points on Friday, while the CAC 40 in Paris slumped 1.55 per cent to 5,143.26 points.
London’s benchmark FTSE 100 index ended the day down 0.93 per cent to 6,994.63 points.
Madrid shed 2.17 per cent and Milan 2.40 per cent.
The euro rose to $US1.0777 from $US1.0761 at the fixing late in New York on Thursday.
HONG KONG – Equities in Shanghai extended their rally on hopes for new economy-boosting measures from China, but Hong Kong and most other Asian markets retreated following more weak US data and losses on Wall Street.
Shanghai rose 2.20 per cent, or 92.47 points, to 4,287.30 but Hong Kong slid 0.31 per cent, or 86.59 points, to 27,653.12.
Tokyo tumbled 1.17 per cent, or 232.89 points, to close at 19,652.88, Sydney sank 1.28 per cent, or 76.00 points, to 5,871.50 and Seoul added 0.17 per cent, or 3.60 points, to 2,143.50.
WELLINGTON – The NZX 50 Index fell 20.28 points, or 0.3 per cent, to 5861.48.
