Asian stock slump over subprime worries

Source: Exec Digital USA

Date :11/13/2007 8:16:51 AM

Asian stock markets saw a sharp fall yesterday after Wall Street declined at the end of last week on renewed concerns about U.S. mortgage problems.

European markets, however, were mixed in early morning trade.

The subprime loan issue continues to still drag on with no prospect of what can end the problem.

Last week saw some major banks warning of further losses in their debt portfolios, continuing to raise concerns amongst investors that the credit market slump isn’t abating.

European stock markets

In Europe, the U.K.'s benchmark FTSE-100 index was up 0.2 percent at 6,314.30, after briefly dipping into the red.

In the U.S, stock futures were lower as investors brace for potentially more bad news from some of the nation's banks.

On Friday, the Dow Jones industrial average fell 1.7 percent to 13,042.7.

November 13, 2007