Amsterdam plummets with other stock markets

18th August 2011, Comments 0 comments

Amsterdam’s AEX index closed down 4.5 percent on Thursday, the biggest single day loss since March 2009.

Some other major European markets fell even more, with London down 4.5, Paris down 5.5 and Frankfurt down 5.8 percent.

Investors fear another recession and disappointing macro figures from the United States hasn’t helped their mood. A report from US merchant bank Morgan Stanley concluding that the US and Europe are “dangerously close to recession” further increased the nervousness of the markets.

In Europe, bank shares plummeted with Dutch banking group ING and Dutch insurer Aegon both losing 8.5 percent. Afternoon trading in the US was slightly better than in Europe, with an overall picture of smaller losses.

© Radio Netherlands Worldwide

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