Word: crashes
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...Thursday brought dreaded confirmation that markets look set to remain in tank mode until they find reason for taking heart anew. In addition to the 11.4% slump of Nikkei - its biggest single-day drop since the October, 1987 crash - trading Thursday elsewhere in Asia pushed Hong Kong's Hang Seng down 4.8%, South Korea's down 9.44%, and Singapore Straights Times Index down 5.5%. Europe faired no better, with London's FTSE 100 and Paris' CAC 40 indices reflecting mid-morning declines of nearing 2.5%, and Frankfurt's Dax off 1.3%. Market commentators warned that trading could see-saw throughout...
...Like millions of other Indians emboldened by the country's booming economy, Goyal, 28, invested in stocks, confident that the seemingly sure profits would pad a comfortable lifestyle. The crash in global markets has been hard for him to accept. India's Sensex has fallen 45% from its peak in January; the Goyal family's net worth, built over years, has been decimated in weeks. From $12,000, their portfolio is down to $4,000 - a loss that totals more than half of Sandeep's annual paycheck from his job with a U.S.-based company. Leaving the room, the father...
...PARIS, FRANCE Crash Diet Wrapped in a brown apron as he greets visitors with a warm, booming voice, François Bonduel owns the kind of Parisian restaurant beloved by tourists and locals alike. But these days - with the euro still strong and economies seizing up around the globe - the foreign visitors that typically make up a third of Bonduel's clientele have been thinning out and spending less. To make matters worse, many French visitors to his restaurant, Au Bon Saint-Pourçain - a stone's throw from the Saint-Sulpice church in Paris' tony sixth arrondissement...
...SAGRA, SPAIN Hitting the Bricks Spaniards refer to the crash of their once booming real estate and construction industries as a "crisis of bricks." In La Sagra, they take that phrase literally. Located about 40 miles (65 km) south of Madrid, the clay-rich county produces roughly 30% of Spain's bricks, and boasts the greatest concentration of brickworks in Europe. But right now, La Sagra's factories aren't making much of anything. "The warehouses are full," says Carlos Duque, general secretary for the Castilla-La Mancha branch of the construction workers' trade union MCA-UGT. "They just...
...Sagra, Spain Spaniards refer to the crash of their once booming real estate and construction industries as a "crisis of bricks." In La Sagra, they take that phrase literally. Located about 40 miles (65 km) south of Madrid, the clay-rich county produces roughly 30% of Spain's bricks, and boasts the greatest concentration of brick works in Europe. But right now, La Sagra's factories aren't making much of anything. "The warehouses are full," says Carlos Duque, general secretary for the Castilla-La Mancha branch of MCA-UGT, the construction workers' trade union. "They just don't have...