Still spooked

Isn’t this what the agreement on the $700 billion bailout was supposed to prevent?

PARIS — European and Asian stocks declined Monday, as the agreement on the $700 billion American plan to rescue Wall Street failed to improve investor confidence or stimulate inter-bank lending.

Sentiment in Europe was not improved by government bailouts of several banks, including the British lender Bradford & Bingley and the Belgian-Dutch financial group Fortis.

If anything, the moves created uncertainty about which institution would be next, said Jean Bruneau, head of sales trading at Société Générale in Paris.

Post author

Leave a Reply

Time limit is exhausted. Please reload CAPTCHA.