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Consumer Corner: Foreclosure settlement no magic bullet for economy
TOKYO, Oct. 7 (UPI) -- Japan's 225-stock Nikkei index fell sharply after opening Wednesday, echoing the Dow's another collapse on Wall Street the previous day.
In early trading, the key average on the Tokyo Stock Exchange was down 323 points, or 3.18 percent, to 9,833 points.
The Dow Jones Industrial Average lost 508 points, or about 5.11 percent, Tuesday to close at a five-year low 9,447. The index has lost nearly 900 points in the previous two sessions.
Hong Kong's Hang Seng index also took a big hit after Wednesday's opening. In early trading, the index had given up nearly 879 points, or 4.97 percent, to 16,804.
South Korea's KOSPI was off more than 3 percent early Wednesday. Australian stocks also were down after opening.
Adding to South Korea's woes was the country's currency dipping further. The Yonghap Yonhap news agency reported the won declined for the fourth straight day early Wednesday, trading at 1,382 against the U.S. dollar, down 53.9 won from the previous session, its lowest level in nearly 10 years.
Analysts blamed the won's fall on the global credit crunch, creating a scramble for the dollar.
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PORTLAND, Maine, Feb. 13 (UPI) --
So-called tar sands oil from Canada is "much, much worse" for the environment than conventional crude oil, a Maine environmental advocate said.
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SAN DIEGO, Feb. 13 (UPI) --
Northrop Grumman reports it will work on the second phase of the U.S. Navy project to deploy new tactical computing network systems aboard ships.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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