Thursday 2 July 2009

Articles from the Daily Mail:- Wall Street Crash

Wall Street clampdown on the traders accused of fuelling the credit crunch


Wall Street watchdogs are clamping down on the traders accused of destabilising the global banking system.
In response to desperate calls for action from big American banks, the Securities and Exchange Commission is to enforce tough new rules against short-sellers - the investors who bet that shares are going to fall.
Short-selling is a legal tactic which is seen as perfectly legitimate in normal times, but it is increasingly becoming a cause of concern.



Frantic: Dealers crowd the post that handles Morgan Stanley on Wall Street near the close of business yesterday


London markets braced for tough trading after panic on Wall Street overnight


Traders in the City were braced for another session of heavy selling on the London Stock Exchange today after a major slump in US share prices last night.
Wall Street investors panicked over a further wave of depressing economic news, wiping 344.65 points off the Dow Jones Industrial Average in New York.
It fell to 11188.23 after some of America's biggest retailers posted disappointing August sales figures and a surprise spike in unemployment.
The double whammy fuelled fears that the world's biggest economy was in worse shape than previously thought, leaving worried investors frantically selling their holdings.
Turmoil: Traders on the New York Stock Exchange had a rough session

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