World Stock Markets Finish Lower

European markets slid on news of layoffs, profit warnings; Canada follows U.S. lead; Asia falls on record unemployment data

European markets ended lower Tuesday as both job cuts and profit warnings hurt investor sentiment. Cellular phone companies were hard hit as were chemical producers. In London, the FTSE 100 index finished off 82.30 points, or 1.62%, to 5,000.60. The Paris CAC 40 index dropped 131.31 points, or 3.00%, to 4,251.93. In Germany, the DAX index ended down 116.37 points, or 2.50%, to 4,543.98.

Canadian markets finished lower. Investors beat the TSE 300 composite index down 70.94 points, or 1.03%, to 6,825.40, on bad news from companies, weak U.S. economic data and worries about Argentina's debt. Tech, oil and metals stocks led the market's losses.

Asia's markets ended lower. Japan's Nikkei saw a third straight day of losses after record jobless numbers were released, while bank stocks took it on the chin. In Japan, the Nikkei 225 index fell 99.49 points, or 0.94%, to 10,512.82. Canon topped the downturn in the sector, after forecasting a 14%decline in net profit for the year ending March 2002. In Hong Kong, the Hang Seng index lost 101.66 points, or 1.00%, to 10,076.43.

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