| Date: |
02-12-2008 |
| Subject: |
A look at economic developments around the world |
India's stock market fell sharply amid uncertainty over the political and economic outlook after terrorist attacks killed more than 170 people in the country's financial capital. Also weighing on investors were fresh signs that economic downturns in the U.S. and Europe, both major export markets, were weakening demand for Indian-made goods. The Bombay Stock Exchange Sensitive Index, or Sensex, closed down 252.85 points, or about 2.8 percent, at 8,839.87 on light volume. The index rose 0.7 percent on Friday after being shut on Thursday. While the attacks could keep tourists and foreign investors away, at least in the short term, some analysts attributed the decline to shock and anxiety in the immediate aftermath rather than a loss of confidence in India's economic prospects. Adding to the unease, government data showed the country's exports were down 12.1 percent in October compared with a year ago, further evidence that the global slowdown was taking a toll on India's economy.
Source : International Herald Tribune
|