Stock markets worldwide slumped into the red today as investors resorted to profit booking amid escalating political unrest in Libya that also pushed oil prices higher.
Right from Tokyo to London to Mumbai, bourses ended in the negative zone and investor sentiment was also hit by fears that pricier oil could put brakes on the global economic recovery.
Most of the Asian stocks declined and European markets too were trading lower in afternoon trade.
Hong Kong’s key index Hang Seng and China’s benchmark Shanghai SE Composite tumbled over 2 per cent to end the day at 22,990.80 points and 2,855.52 points, respectively.
Nikkei 225, Japan’s main stock index, fell by 1.78 per cent to 10,664.70 points. South Korea’s Kospi dropped by 1.76 per cent to 1,969.92 points.
Meanwhile, India’s benchmark 30-share Sensex closing marginally down at 18,296.16 points.
Protests are raging in Libya against Muammar Gadaffi, who has been ruling the country for over four decades. Going by reports, many diplomats and soldiers have deserted the Libyan leader.
The tensions have also pushed up oil prices as Libya holds one of the largest crude reserves in Africa.
Moreover, political unrest in many other Middle East nations, including Bahrain, is also adding to the investor woes.
Bogged down by concerns over Libyan situation, European markets began on a jittery note.
In afternoon trade, London Stock Exchange’s FTSE 100 decreased over one per cent to 5,948.58 points. France’s key Cac 40 index declined 1.39 per cent to 4,040.37 points.
German stocks were slightly lower and the benchmark Dax index slipped to 7,289.98 points.
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Source: Indian Press
Source: Indian Press
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