LONDON (Reuters) - World stocks nosedived and demand for safe-haven bonds and currencies soared on Monday as fears gripped investors that a deteriorating U.S. economy would drag others down with it.
The losses on the blue-chip stock indexes of Germany, Britain and France alone amounted to more than $350 billion, or roughly the size of the combined economies of New Zealand, Hungary and Singapore.
MSCI's main world stock index (.MIWD00000PUS), a benchmark gauge of stock markets globally, sank 3.3 percent, falling below its 2007 bottom to lows last seen in December 2006 and taking it down more than 12 percent so far this year.
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The losses on the blue-chip stock indexes of Germany, Britain and France alone amounted to more than $350 billion, or roughly the size of the combined economies of New Zealand, Hungary and Singapore.
MSCI's main world stock index (.MIWD00000PUS), a benchmark gauge of stock markets globally, sank 3.3 percent, falling below its 2007 bottom to lows last seen in December 2006 and taking it down more than 12 percent so far this year.
The title reference .
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