Worldwide stock markets under pressure
There is concern and anguish on the face of many investors today as worldwide stock markets continue to head south amid signs that the US economy is under pressure and the rising value of the yen, which hit a 15 year high against the dollar and a nine year high against the euro, is beginning to impact upon Japanese exports.
The yen is seen by many as safe haven during troubled times and the very fact that the upwards momentum appears to be gaining pace is a major concern. Many now believe that the US economy is beginning to turn down and the worldwide economic revival seen over the last few months is certainly running out of steam. Against this background, and with austerity measures to be introduced by many governments around the world, there would appear to be little for investors to get excited about and many have now retreated to the sidelines.
All of the major stock markets around the world posted losses as of midafternoon with expectation that Wall Street will come in lower later today. It is difficult to see any good news on the horizon which would indicate a very difficult period for worldwide stock markets.
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