Panic Shuts Tokyo Exchange Early
Wednesday, January 18, 2006
Associated Press
A criminal probe into a high-profile Japanese Internet company (Livedoor) and weaker-than-expected U.S. technological earnings (Yahoo, Intel) caused panic selling in Tokyo. As a result, the Tokyo Stock Exchange (TSE) suspended trading for 20 minutes in the world’s second largest market. The TSE halted all transactions due to the large number of transactions that threatened to overwhelm its computerized system. The system is capable of handling 4.5 million transactions, but has been experiencing technical difficulty in recent months.
The sell-off in Tokyo and the disruption in trading spooked investors worldwide, and lowered financial markets in Europe and the United States. The New York Stock Exchange was down nearly 60 points in early afternoon trading.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment