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Global stock market after the victory the day before on Wall Street, where the Dow Jones Industrial Average fell more than 7 percent, while investors looked forward to the global financial institutions in Washington after meeting the new measures to stop the unrest.

“We are fighting a real terrible fundamentals, said:” Gerhard Schwarz, a credit analyst in Munich. “This will need to restore trust and confidence in the continued rebound will be possible.”

European stock markets fell more than 10 percent at the opening ceremony, but they came after a low point. In afternoon trading, the FTSE 100 index was down 7.2 percent. Paris CAC 40 index fell 7.8 percent, and Frankfurt DAX index fell 8.2 percent.

In Asia stock markets also declined to worry about the spread of a deep global recession is on the other hand, despite the unprecedented step of the decision-makers to resolve a financial crisis. Due to the urgency of growth, finance ministers and central bankers from the world’s richest countries gathered in Washington to meet U.S. President George W. Bush and is due to make a statement on the crisis in 10:00

The Nikkei 225 stock average - already reeling from a recent 10 percent drop Wednesday - fell 9.6 percent last Friday to close at 8 2 76.43.

Index futures trading in the United States proposed that the index fell about 3.3 percent of the opening. Last Thursday, the Dow Jones Industrial Average fell 678 points, to 8579.19, the first close below 9,000 since 2003, as the stock changed in the last hour.

Stressed the impact of the crisis, General Electric last Friday reported 22 percent drop in third-quarter net income, with the global credit crisis hurt the arm of GE Capital, Reuters reported.

“Afraid of the index sharply higher,” Mr. Schwartz pointed out that the measures, pointing to the volatility of the market, close to a record high. “We see volatility this week after seven to nine percent in Europe.”

With a wide range of trade shares have been issued to 2169.62 deep positive territory, and return to this week, “We do not know if we will in just a few hours,” he said.

Fear of a global recession might slow down, demand for oil caused prices below 82 U.S. dollars to close at Thursday. The International Energy Agency, on the grounds that “spiral liquidity crisis”, its oil demand growth forecast for the rest of 2008 to the lowest interest rates in percentage terms since 1993, Reuters reported.

In Asia, Japan’s benchmark index has given up more than 25 percent of the value of this month.

Hong Kong’s Hang Seng Index fell 7.2 percent last Friday, while the ASX/200 index closed 8.3 percent lower in Sydney.

Japanese investors sold shares after, and life insurance, non-listed medium-sized insurance companies, filed for bankruptcy protection. Not related to a real estate investment trust, the new urban residential investment, also filed for bankruptcy protection.

In Seoul, the Kospi index fell 4.1 percent. Shanghai Composite Index fell 3.6 percent, it lost about 15 percent of the week. Indonesia Stock Exchange to suspend trading on the third day, and exchanges in Bangkok and Vienna to stop trading, the stock price fell more than 10 percent, triggered circuit breaker rules.

In Moscow, Russian State Duma, or lower house of parliament approved the financial sector rescue package, worth more than 80,000,000,000 U.S. dollars. Russia’s stock exchange to suspend trading until further notice.

Investors pay close attention to the crisis on the 7th meeting of finance ministers in Washington state late Friday. The United States and Britain appeared to be similar to the integration of the financial blueprint for chaos, including the Government to inject money into the bank in exchange for equity ownership and guarantee repayment of various loans.

“This is a must for the G-7 countries, especially the United States, with a firm commitment of public funds into the capital for the bank in trouble, in order to see out of the stock market downturn,” Hideyuki Suzuki, a Morningstar analyst, told the Road Japan Society through. “If the G-7 countries have not done so, its raison d’etre will be called into question in the affirmative.”

Credit markets are still frozen. The so-called Ted spread, which measures the gap between the production safety of 3 months of U.S. government bonds and interest rates, banks charge each other for loans the same time, close to a record level of 4.13 percentage points in the show that financial institutions still Deep silence of the loans to their peers.

“The central bank is trying to supply liquidity, and in many cases it is only to come back to them,”罗宾马歇尔director of international fixed-income consumers and the League of Smith & Williamson said Bloomberg News. “There are real problems in the people their money to work. Opponents fear the risk of acute, and it is only willing to lend the bank is now the central bank.”

Mr. Schwartz believes that the G-7 can help matters, for example, restrictions on movement of the counterparty risk insurance transactions between the central bank’s financial institutions.

The stock has also been evidence that the spread of financial markets has reached the wider economy.

Singapore said its economy had shrunk 6.3 percent in the third quarter of this year, and Ken Wa Terui Te, an economist at BNP Paribas in London, the study pointed out that it was “almost inevitable” in the euro zone economy will In 2009 to narrow.

In charge of the International Monetary Fund, Dominique Strauss-Kahn Kesitelao Thursday that the situation is “serious, even dangerous,” and criticized the European Union’s answer to the date of “non-conforming not enough.”

The IMF estimated that its potential costs of the crisis, about 1,400,000,000,000 U.S. dollars, higher than previously estimated 1 trillion.

Of oil, OPEC has hinted it may cut production to support the price of an emergency meeting of the major oil-producing countries in Vienna on November 18.

U.S. crude oil futures for delivery in November fell the lowest in a year, fell to 81.13 U.S. dollars a barrel in electronic transactions, the New York Mercantile Exchange.

Adjust the money market to continue, the major currencies, fell to close at 1099.26 points. Dollar fell to 98.99 yen from 99.81 late Thursday in New York, the euro and 134.18 yen against 135.80 from.

The euro against 1.3558 U.S. dollars from 1.36 105 dollars, and sterling fell to 1.6880 U.S. dollars from 1.7 years and 97 U.S. dollars. Dollar fell to 1.1205 Swiss francs 1.1295 francs.

Mr. Schwartz said that a positive reaction, the market is almost inevitable in the next few days, the sharp decline in the last few weeks. However, he warned that unless policy makers came up with a way to let the drop in borrowing costs businesses and consumers, any gains may be short-lived.

“This will be very difficult enterprise, the need to refinance the debt,” he said, “This will begin to appear in the next month.”

In addition, the wave of adjustable rate mortgages about to reset in the next few months, the rate of decline in a hurry. Interest rates on many mortgages tied to the London Inter-bank Offered Rate, the London Interbank Offered Rate, the interest rate in bank loans from other banks