Asia: Wall Street's Money Crisis Hits Again
If Japanese financiers expected a quiet day of trading ahead of next week's extended holiday break for obon, the Buddhist festival of the dead, they sure didn't get one. Following overnight market carnage in Europe and the U.S. triggered by continuing concerns about the U.S. subprime mortgage market, Japan's Nikkei 225 index hemorrhaged 406.51 points, falling 2.4% to 16764.09 in Aug. 10 trading. That came after the Dow Jones industrial average lost 387.18 points, or 2.83%, to 13270.68 on Aug. 9.
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