European Debt And Economic Worries Exacerbated &Nbsp; Dow Fell 2.69% On Friday.

European debt and economic worries intensified Friday.

The European Central Bank's internal debt sharing is open, and the sovereign debt crisis is likely to spread further. The global economic recession is aggravating. Obama's $447 billion employment stimulus package failed to boost market confidence. Under the multiple negative conditions, the market reacted to the sell-off. On Friday, the US stock market closed down, the three major indexes closed down, the Dow fell 303.68 points, or 2.69%, and the NASDAQ fell 61.15 points, or 2.42%.

On the disk side, the major sectors fell, and energy, industrial and financial stocks took the lead.

In terms of stocks, American Express fell 4.54%, HP fell 5.11%, Barclays fell 8.9%, Deutsche Bank fell 8.71%, Credit Suisse fell 6.12%, McDonald's fell 4.04%, Bank of America fell 3.06%, YAHOO rose 0.28%, TI rose 1.09%, apple fell 1.73%, NYSE fell 3.13%, VeriSign fell to 3.13%.

Analysts said on Friday that President Obama's $447 billion stimulus package on Thursday was unlikely to survive intact, because the US Congress could only divestiture and pass the tax cuts, while other stimulus measures would disappear.

The European Central Bank announced on Friday that, due to personal reasons, the Juergen Stark of the bank will leave at the end of this year.

Jurgen Stark has been able to pass the central bank's own bank last month.

On Friday, Stark, an important member of the European Central Bank's Governing Council, announced his resignation because of the policy objection to the national debt purchase project. The internal differences of the European Central Bank were made public. Worries about the renewed escalation of the euro area sovereign debt crisis led to a setback in the European stock market financial sector, and the stock price of Porsche and the mass merger postponed. The pan European Dow Jones index closed down at 224.59 points Friday, or 2.55%.

In the main regional index, the German DAX30 index fell 4.04% to 5189.93 points, the financial times 100 index fell 2.35%, reported 5214.65 points, and the French CAC40 index fell 3.60%, closing at 2974.59 points.

On the gold market, the US and European stock markets fell again on Friday, and the risk aversion pushed up the price of gold. But during the same period, the stronger dollar strengthened the price of gold.

Gold prices climbed again and again on the same day. The New York Mercantile Exchange's main gold contract in December rose 2 dollars, or 0.1%, at $1859.50 an ounce.

On the crude oil market, on Friday, the prospect of the euro area sovereign debt crisis worsened, and the US economic growth was in recession. It worried that the future demand of crude oil would be dragged down. When crude oil prices fell, the New York Mercantile Exchange's main oil contract in October fell 1.81 dollars, closing at 87.24 yuan per barrel, or 2%.

In terms of commodities, the adverse impact of the global economic growth continues to be an important factor affecting the copper price trend of the day. The relatively high US dollar exchange rate pushed copper prices to its lowest level in more than two weeks. The London Metal Exchange's three month benchmark copper contract closed at $8821 per ton on Friday, compared with the closing price of the contract at Thursday's closing price of 9115 US dollars, or more than 3%.

In the foreign exchange market, as of the closing of New York's foreign exchange market, the US dollar index, which tracks six major currencies, rose by 1.20% at 77.16 points, and the euro fell to 1.66% against the US dollar at 1.3659 US dollars. The US dollar was 77.47 yen against the yen, almost flat with Thursday. The pound fell by 0.65% against the US dollar and ended at $1.5863.

economic data

No important economic data are released today.

Company news

YAHOO's independent directors have set up a "strategy and trade" committee, led by David Kenny, a board member.

YAHOO plans to hire Allen & Co., a consultancy, to work with the Committee and plan to employ JP chase Morgan bank as a consultant.

HSBC announced on Friday that CEO Mark, the Hongkong branch of the bank, has resigned from its position to become the head of Asia's business in the Asset Management Co, Mark.

Mark Mike Camby was once considered a powerful successor to Stuart Gulliver, HSBC's chief executive.

US regulators will soon be able to reach a settlement agreement with Fannie Mae and Freddie Mac on whether the two mortgage giants have fully disclosed their subprime risks, which will end the three year investigation.

Under the terms under discussion, the proposed terms of the FM and the SEC will include fines or recognition of fraud.

GlaxoSmithKline announced on Friday that the clinical trial group on the single effect of breast cancer drug Tykerb will stop receiving new patients, saying that the effect of using Tykerb alone may be worse than that of rival Roche Hesseltine (Herceptin).

India Tata Motors announced Friday that CEO Karl Peter Foster has resigned as CEO and executive director and will leave immediately.

Tata Motors said Karl Peter Foster resigned for "unavoidable personal reasons" but did not make any further explanation for the change.

Discount retailer Dollar General announced on Friday that the second round of 25 million share issuance will be made at a 0.07% discount on Thursday's closing price.

Although sales of household, clothing and quarterly promotions led to a decline in profit margins, the company's net profit in the second quarter increased by 3.4%.

Media reports quoted people familiar with the matter Friday that mobile phone operator Sprint Nextel will launch a new unlimited data service package with Apple Corp's iPhone 5 next month.

Thanks to the strong performance of us and European businesses, McDonald's global same store sales in August increased by 3.5%, but still less than 4.9% of market expectations. The growth in China, Australia and many other markets was offset by the decline in the Japanese market, while Asia Pacific, Middle East and Africa same store sales fell 0.3%.

Due to legal investigation, it is impossible to determine the valuation of Porsche. The plan to complete merger between Porsche and Volkswagen before the end of the year has come to naught. Whether the two companies can finally succeed in merger is still a question mark.

The Bank of America is considering cutting up to 40 thousand employees, accounting for 14% of the total workforce. The layoffs come mainly from the US consumer banking sector. The decision will be discussed at a meeting next Monday.

The mining giant BHP Billiton plans to go on strike at the Australian coal mine workers. It has been reported that trade unions and BHP Billiton will negotiate new employment agreements on Saturday this week, and the strike is expected to last for several weeks.

The Air France KLM board of directors expects to announce its latest mid size passenger replacement plan in September 15th, and plans to buy about 100 medium-sized airliners from Airbus and Boeing.

BMW Motor said on Friday that it expects September sales of vehicles to exceed 110 thousand new monthly records in August, and sales will grow by 7.4% year-on-year.

BMW's sales in the first 8 months of this year increased by 17% over the same period last year, far exceeding 1 million 70 thousand in the same period last year.

US chain supermarket operator Kroger Co (Kroger Co.) increased its second quarter earnings from US $261 million 600 thousand in the same period last year to US $280 million 800 thousand, and sales increased from US $18 billion 800 million in the same period last year to US $20 billion 900 million.

Hecla Mining Co., the silver mining operator, announced on Friday that the environmental settlement agreement for the company's environmental pollution litigation in the idarun basin of Idaho has been approved by the court and will be settled with a settlement of $263 million 400 thousand. The Mining agreement has been approved by the court.

India's Axis bank said later on Thursday that there was a media report that India's central bank had asked the bank to offer cash instead of Enam's offer to buy shares of the securities company.