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Business reports from earlier this week confirm that the major European stock markets have plunged about 5 percent as investors are increasingly worried that the world's leading economies might be heading towards a devastating economic collapse. Frankfurt's DAX index dropped by nearly 6%, marking Monday's worst fall, AFP reported. Meanwhile, the CAC 40 index in Paris fell by 5.1%, while London's FTSE index was down 3.5%. Several factors have added to the negativism among investors. Among the most important was the poor showing of German Chancellor Angela Merkel's coalition in state elections on Sunday.
Concerns also increased last week after the USZ announced that August was its first month of zero job growth since 1945. According to a USZ Labor Department report, nonfarm payroll employment was unchanged in August. Some experts have said that with the current pace of job creation, the USZ will not be able to reach its pre-recession level of overall employment until 2017. Investors are also worried about the impact of the austerity measures introduced by a number of European countries and the USZ government.
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A trader looks at screens at the Madrid bourse on September 5, 2011 |
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