World stock markets continued to head south todayafter last week's heavy losses, with the ISEQ in Dublin closing 218 points - or 2.8% - lower. Today's falls knocked over €3 billion off the value of Irish shares.
Global stock markets had tumbled last week on increasing concerns about inflation and interest rates. This morning in Asia, the Tokyo market fell 2% and Hong Kong was down 3%, while the Indian stock exchange was forced to close for an hour after losing more than 10% of its value, though it later regained some ground.
Energy and mining stocks lead stocks lower, as commodity prices fell. There are fears that higher inflation and interest rates will dampen demand. In Europe, London's FTSE closed 2.2% lower, while Paris tumbled 2.6% and Frankfurt lost 2.2%.
Wall Street shares skidded further this evening. The Dow Jones was down 0.22%, while the tech heavy Nasdaq had lost 1.12% in late trade.
