• From The BBC:

    US shares have fallen on worries about Dubai’s debt problems, with the Dow Jones ending down 154 points, or 1.5%, at 10,309.92, in a shorter trading day.It was the first chance for markets in the US to react to news that state-owned Dubai World had asked for more time to repay its debts. US markets were closed for a holiday on Thursday when other world markets suffered steep losses. However, the main European markets recovered from earlier falls. The main share indexes in the UK, France and Germany had all fallen by more than 3% on Thursday. But after falling further in early trade on Friday, the UK’s FTSE 100 closed up 1%, and both Germany’s Dax index and France’s Cac 40 ended more than 1% higher. Earlier in Asia, Japan’s Nikkei index had closed down 3.2% and the Hong Kong Hang Seng ended 4.8% lower. UK Prime Minister Gordon Brown described the fall in the markets as a “setback” but said it was “not on the scale of previous problems”. “The world financial system is stronger now and ab…

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    Posted by Jon @ 8:38 pm

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