Amsterdam stock exchange takes a battering

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The Amsterdam stock exchange has taken a dive. Its AEX index opened below the psychological barrier of 300 points on Friday. The last time the AEX fell below 300 points was 5 November 2009. The AEX had already closed 3.2 percent down on Thursday.

The value of many major Dutch companies has taken a battering, with ING banking group down 5 percent, Aegon financial group down 3.8 percent and SNS losing nearly 9 percent. The poor showing follows continuing gloom on the Asian and US markets.

Amsterdam AEX index trader Rob Koenders says: “It’s a real battlefield on the exchanges and the malaise is continuing.” He complains the European Central Bank said “too little, too late” in its press conference on Thursday.

Global losses On Thursday, stock exchanges in Europe, including Amsterdam’s AEX index, in the USA and in Asia all showed major losses. On Wall Street, the Dow Jones index lost over four percent. Japan’s Nikkei index closed four percent down, lower than its position in the wake of March’s tsunami.

The world’s investors fear a new global recession, with worries centring on the financial stability of the USA, and southern European countries including Spain and Italy.

© Radio Netherlands Worldwide

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