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The Great Global Sell-Off

Panic selling devastates world markets

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• Oct. 10: A broker works at the stock market in Frankfurt, central Germany. The euro fell against the dollar Friday as world markets retreated further on worries that strains in the financial system would persist and growth would suffer.
• Oct. 10: A pedestrian walks past a screen displaying markets news, with European stock exchange indexes being showed, in a Paris street. European stock markets slumped in early trading Friday following massive sell-offs on Wall Street and Asia as lending rates between banks continue to rise despite this week's efforts by central banks to break the logjam in credit markets.
• Oct. 10: Pedestrians walk past a computerized display showing the FTSE 100 index in west London. The FTSE 100 index of leading British shares plunged 7.1 percent in the first half hour of trading on the London Stock Exchange Friday morning, tracking steep declines in Europe, Asia and the U.S.
• Oct. 10: A broker reacts at the stock market in Frankfurt, central Germany. The euro fell against the dollar Friday as world markets retreated further on worries that strains in the financial system would persist and growth would suffer.
• Oct. 10: Investors look at the stock price monitor at a private security company in Shanghai, China. Chinese shares dropped Friday for a fifth day, adding to Asian losses as financials and agricultural stocks fell. The benchmark Shanghai Composite Index finished down 3.57 percent, or 74.01 points, to close at 2000.57.
• Oct. 10: An investor reacts as he looks at the stock price monitor at a private security company in Shanghai, China. Chinese shares dropped Friday for a fifth day, adding to Asian losses as financials and agricultural stocks fell. The benchmark Shanghai Composite Index finished down 3.57 percent, or 74.01 points, to close at 2000.57.
• Oct. 10: A trader wipes his face as he makes a phone call on the trading floor during the halt of the trade at Indonesia Stock Exchange in Jakarta, Indonesia. Indonesian stock trading was frozen indefinitely Friday to 'avoid deeper panic' as global markets plunged over concerns stemming from the U.S. financial crisis, the bourse president said.
• Oct. 10: A man walks past a display showing stock prices at a local bank in Hong Kong. Hong Kong's key stock index had tumbled 7.2 percent as worried investors gave up holdings after steep losses in Wall Street overnight and regional bourses. The blue chip Hang Seng index plunged 1,146.37 points, or 7.2 percent, to 14,796.87 Friday after falling by more than 9.5 percent at one point.
• Oct. 10: Pedestrians are reflected on an electric market board in Tokyo showing the Japanese stock's 974.12-point fall in Tokyo. Japan's key stock index plunged a stunning 9.6 percent Friday to close out its worst week in history as frantic investors worried about a global recession dumped stocks after huge losses on Wall Street. The benchmark Nikkei 225 index tumbled 881.06 points to 8,276.43, its lowest since May 2003. It was its biggest one-day percentage loss since the stock market crash of October 1987.
• Oct. 10: A man reads a newspaper headlined with two banners: 'Japanese stocks may soon fall to the 7000-yen level' and 'Yamato Life Insurance Co. went bankrupt' in Tokyo. Japanese shares nose-dived Friday as frantic investors dumped stocks following massive overnight losses on Wall Street and on growing fears of a global recession. The benchmark Nikkei 225 index closed down 881.06 points, or 9.62 percent, at 8,276.43, its second-biggest one-day loss since October 1987.
• Oct. 10: Dealers watch monitors at Tokyo Stock Exchange in Tokyo. Japanese shares nose-dived more than 10 percent in morning trade Friday as panicked investors dumped stocks following massive overnight losses on Wall Street and on growing fears over a global recession.