Since Lehman Brothers' bankruptcy, stocks have continued their fall.
The financial markets are in total confusion while analysts are unable to tell whether an improvement is possible or not. Since the start of January, the index of the major stock markets are in chaos with record falls. The hardest hit are the stock markets of Iceland (-94%), followed by that of Moscow (-71,74%) and Shanghai (-62.26%).
The total loss pertaining to the crash of the stock market reported , since the beginning of the year, amounts to 32 000 billion USD.
The government's intervention has done very little to reassure the public about financial markets.
The global downturn is now affecting all economic sectors with a slowdown in investments, the dissolution of international group's subsidiaries, waves of massive layoffs and rising unemployment.
Uncertainty reigns over the state of financial markets for the year 2009 while analysts are only skeptical about any sign of progression up to June 2009.
Evolution of the index
| Stock markets | Index |
|---|---|
Dow Jones (New York) | -43.07% |
Nasdaq (New York) | -50.38% |
CAC 40 (Paris) | -46.91% |
DAX (Frankfurt) | -47.69% |
FTSE (London) | -39.99% |
Nikkei (Tokyo) | -48.32% |
Shanghai SE composite (Shanghai) | -62.26% |
Bovespa (Sao Paulo) | -47.71% |
Micex (Moscow) | -71.74% |
ICEX(Iceland) | -94% |