Word: hangings
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...percentage point, and signaled that another half point cut could come as soon as next week - arrested, at least temporarily, the rout in equity markets around the world, which had hit Asia's bourses particularly hard. In the trading day before the rate cut, Hong Kong's Hang Seng had declined 8%, Tokyo's Nikkei 5.7% and Mumbai's Sensex 12 percent...
...what you will about today's global economy, it ain't dull. In a cascade of worry on a single trading day, Jan. 21, Hong Kong's Hang Seng index plunged 8.6%, Tokyo's Nikkei 5.7% and Mumbai's Sensex 12.9%. It was a worldwide mini-meltdown, and the Federal Reserve Board wasn't about to let that go unanswered. Before the U.S. markets had even opened, Fed Chairman Ben Bernanke - not a man known for dramatic gestures - slashed a key interest rate three-quarters of a percentage point. The surprise move arrested the rout, and the markets have since...
...dose was needed, fast, to stem a virtual free fall in global stock markets. On Jan. 21 and 22, investors around the world went on a panicked selling spree that resulted in heavy losses. London's FTSE 100 index fell 5.5% on Jan. 21, while Hong Kong's Hang Seng Index fell more than 13% in two trading sessions; Mumbai's Sensex dropped more than 12% over two days...
...England would also cut rates in an attempt to stave off a slowdown. In morning trading in Europe, though, stocks fell. Britain's FTSE 100 dropped 1.25%, Germany's DAX index slid 2.16%, and France's CAC-40 fell 2.10%. Markets in Asia rebounded however, with Hong Kong's Hang Seng Index rising 10.7% - its biggest gain in 10 years - and indexes in Korea, Singapore and Japan gaining more than 3 percent...
...standing on several fronts. He must argue that despite his decades in Washington, he is an agent of change. He must convince voters increasingly worried about the economy that Romney's private sector success is not as important as his record of government experience. (And Fred Thompson may not hang in long enough to be spoiler among conservative Florida Republicans.) Even more dramatically, McCain must make the case to moderates and independents that he, not Giuliani, best represents their interests. "My guess is that we'll split the moderates with Giuliani," concedes McCain adviser Charlie Black. "But we're gonna...