International markets roundup
Market watch top headlines
A roundup of trading on major world markets:
NEW YORK - US stocks slid sharply, with the Dow Jones Industrial Average sinking two per cent, as disappointing economic data from China and Europe followed the Federal Reserve's slashing its growth forecast for the United States.
Tech stocks fell broadly, with Microsoft's 2.6 per cent loss helping pull the Nasdaq 2.4 per cent lower. Growth-related plays like mining stocks and oil took the biggest falls, with Alcoa sinking 4.3 per cent, Occidental Petroleum 6.1 per cent and Chevron 3.5 per cent.
At the close the Dow Jones Industrial Average was down 250.82 points, or 1.96 per cent, at 12,573.57.
The S&P 500-stock index fell 30.18 (2.23 per cent) to 1,325.51, while the tech-rich Nasdaq dropped 71.36 (2.44 per cent) to 2,859.09.
LONDON - European stocks slid in anxious trade before Spain announced the cost of bailing out its banks and amid a slew of data that suggested a slowdown in the global economy.
London's benchmark FTSE 100 index closed down 0.99 per cent at 5566.36 points on Thursday.
In Frankfurt the DAX 30 dropped 0.77 per cent to 6343.13 points, while in Paris the CAC 40 slid 0.39 per cent to 3114.22 points.
Madrid's IBEX 35 index gave up 0.33 per cent while Milan bucked the trend to edge 0.14 per cent higher amid renewed talk about having the EU rescue funds buy government bonds.
In foreign exchange deals, the euro fell to $US1.2582 from $US1.2702 late on Wednesday in New York.
HONG KONG - Asian markets mostly slipped on disappointment at the US Federal Reserve's muted stimulus measures aimed at kickstarting the economy, while European concerns also remained in focus.
Adding to the selling pressure were preliminary numbers from banking giant HSBC showing China's manufacturing activity hit a seven-month low in June.
Sydney fell 1.09 per cent, or 44.8 points, to 4087.6 and Seoul gave up 0.79 per cent, or 14.97 points, to close at 1889.15.
Hong Kong tumbled 1.30 per cent, or 253.78 points, to 19,265.07 while Shanghai fell 1.40 per cent, or 32.00 points, to 2260.88.
But Tokyo closed 0.82 per cent higher, adding 71.76 points to 8824.07 owing to a slightly weaker yen.
WELLINGTON - The NZX 50 index fell 35.40 points, or one per cent, to 3,409.39.