Issue link: https://www.epageflip.net/i/41330
8B Daily News – Tuesday, September 6, 2011 BANGKOK (AP) — Asian markets opened lower Tuesday after fears of a worsening global econo- my sparked a session of free-falling losses in Europe. Asia stocks dragged down by selloff in Europe Wall Street Japan's Nikkei 225 Oil prices fell to below $84 a barrel in Asia as investor fears of a recession in developed countries sent equities and commodities lower. The dollar was high- er against the euro but lower against the yen. index dropped 1.2 percent to 8,676.12. Hong Kong's Hang Seng index was 1 percent down at 19,420.47. Australia's S&P ASX 200 lost 1.1 percent to 4,095.50. South Korea's Kospi index was 0.6 percent down at 1,774.73. The slump in Asia comes a day after European shares booked sharp losses. Britain's FTSE 100 closed the day down 3.6 percent to 5,102.58. Germany's DAX tumbled a massive 5.3 per- cent to 5,246.18, and France's CAC-40 plum- meted 4.7 percent to 2,999.54. A wave of negative sen- timent was unleashed Fri- day by a government report that said the U.S. economy failed to add any new jobs in August. That caused European and Asian stock markets to sink sharply Monday. The August jobs figure was far below economists' already tepid expectations for 93,000 new U.S. jobs and renewed concerns that the U.S. recovery is not only slowing but actually unwinding. U.S. hiring figures for June and July were also revised lower, adding to the gloom. The unemployment crisis has prompted Presi- dent Barack Obama to schedule a major speech Thursday night to propose steps to stimulate hiring. The health of the U.S. economy is crucial for the wider world because con- sumer spending there RED BLUFF COLLISION ✪Windshield Replacement $ starting at 200 ✪ Auto Detailing $ 50 off your 1st visit FREE Estimates 530.527.6160 915 Madison St., Red Bluff accounts for a fifth of glob- al economic activity. The U.S. imports huge amounts from Japan and China and is closely linked at all levels with the European market. Traders are hoping for signs that the Federal Reserve might take action at its September meeting to support the economy — perhaps a third round of bond purchases, dubbed quantitative easing III or QE3. Wall Street, which was closed Monday due to the Labor Day holiday, was bracing for losses Tuesday. Benchmark oil for Octo- ber delivery was down $2.47 to $83.98 in electron- ic trading on the New York Mercantile Exchange. ENGLAND'S BOOKKEEPING SERVICES Check Book Balance Email acownteen@yahoo.com Call or Text 530 739-9413 Financial Statements Payroll Sales Tax Crude last settled at $86.45 on Friday because U.S. markets were closed Mon- day for the holiday. In London, Brent crude for October delivery was steady at $110.08 on the ICE Futures exchange. In currencies, the euro weakened to $1.4074 Tues- day from $1.4187 in New York late Friday as worries mounted about Greece's ability to meet require- ments set by international lenders to stave off a mas- sive default on the country's debts. The dollar weakened to 76.82 yen from 76.87 yen. Last month, the dollar fell under 76 yen, which was a new post-World War II high for the Japanese currency. & Concert Series Wednesday Evenings from 5-8 pm • Sept. 7th Sky River Music Classic rock Music takes place from 6-8pm On Washington & Pine Streets • FOOD • CRAFTS • NEW VENDORS WEEKLY • FRESH LOCAL PRODUCE Sponsored By: RED BLUFF D NEWSAILY TEHAMACOUNTY T H E V O I C E O F T E H A M A C O U N T Y S I N C E 1 8 8 5 Sponsored by Red Bluff/Tehama County Chamber of Commerce Red Bluff City River Park every Sat. 7am-11am