Posted by meb at March 15th, 2007

The İstanbul Stock Exchange (İMKB) closed the third day of the week at 40,501.85 points, with a 1,164-point, 2.79 percent fall.The drop was largely affected by the fluctuations in the global markets, which were due to the overvalued Japanese yen in addition to investors’ simmering displeasure with the US economy. As a response to the turbulence in global markets, the İMKB started the day with a big sell-off wave. Following the lower-than-expected retail prices and the figures that indicated many US citizens will fail to pay or delay their mortgage loans, US stocks suffered a sharp decline, more than 2 percent in a single day, which triggered other falls in the rest of the world.

source: Today’s Zaman

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