Stocks Open Flat After Asian Sell-Off – Jeremy W. Peters and Wayne Arnold
From the International Herald Tribune:
U.S. stocks opened flat Wednesday after a late-session slump Tuesday that led to a sell-off in Asia and carried over in Europe because of concerns about the mortgage industry.
The main indexes were fluctuating slightly between gains and losses. Stock markets then fell sharply on concerns that investors are being forced to sell Asian assets to cover losses in the United States, and that hard-pressed American homeowners will scale back their demand for Asian exports. [Full Text]
See also the Forbes stock market summary for China and U.S. Treasury Secretary Paulson’s comments on the stock market after his trip to China.
