Word: slump
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Dates: during 2000-2009
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...closely tied to the economy, even though the two often run in very different directions. The market is always looking ahead six to nine months and is a gauge of what investors collectively believe will be the situation far into the future. That's why stock prices began to slump well before the recession was in full bloom. It also means that now, just as economic woes seem the most dire, the market could be close to focusing on the recovery and moving higher...
...however, this Chinese territory's economy - highly dependent on financial services and trade - is proving vulnerable to the global downturn. As Europe and the U.S. slump, so have merchandise exports from Hong Kong, which in the third quarter grew at their slowest pace in more than six years. Hit by higher costs, slowing orders and tightening credit, thousands of factories owned by Hong Kong firms are closing up in southern China's industrial heartland. This week, HSBC, the city's largest bank, said it would layoff about 450 people in Hong Kong due to deteriorating business conditions and a poor...
...global slump hasn't been the only bad omen for the launch of the Atlantis in Dubai. Only weeks before the resort welcomed its first paying guests with a soft opening in September, a fire caused by welders engulfed the hotel's lobby. That produced a public-relations nightmare of flames and smoke billowing from the site aspiring to become Dubai's next icon. Workmen managed to repair most of the damage in time, but then the Atlantis was hit by "Free Sammy" campaigners demanding the release from the aquarium of a 13 ft.-long whale shark on the grounds...
...further evidence was needed that the long-dreaded global economic slump is now upon us, the Eurozone - the 15-nation economic bloc that uses the common European currency - was formally declared to be in recession, for the first time since the euro was adopted nearly a decade ago. Oddly enough, Asian and European equity markets responded to the dismal news by posting gains of between 0.5% to 4% throughout...
Even though most of the nation’s largest retailers reported a sharp slump in sales for October, local businesses seemed poised to weather the economic storm, buoyed by the reliable university customer base and the Square’s consistently strong foot traffic.“Harvard Square is a little different [from other business environments] in that people, students, academics, business people—they still have to come here because business continues and school continues,” said Denise A. Jillson, executive director of the Harvard Square Business Association. “People need...