We’ve been riding quite the five day rally there, but the early action suggests that will come to a screeching halt today. The pre-market futures are off pretty hard, following global declines:
AP: India’s benchmark Sensex index reversed early gains, falling 2.8 per cent to 8,839.87 in the wake of the terrorist attacks in Mumbai that left 172 people dead.
In Tokyo, the benchmark Nikkei 225 stock average lost 115.05 points, or 1.4 per cent, to close at 8,397.22 after advancing 7.6 per cent last week. Investors sold exporters as the yen strengthened, which erodes their overseas earnings.
Markets in South Korea, Australia and Singapore also fell.
As trading opened in Europe, the FTSE 100 index of leading British shares fell 2.2 per cent at 4,192.38. Germany’s DAX was 3.1 per cent lower at 4,522.98 and France’s CAC-40 slipped 2.5 per cent to 3,179.71.