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Roller-coaster in Asia after stocks dive on Wall Street
Mood in region lifts on US stimulus hopes after worst rout on Wall Street since Oct 1987 crash
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A trader at the New York Stock Exchange on Thursday. The falls overnight - the biggest on Wall Street since the October 1987 crash - sent the Straits Times Index plunging by as much as 6.3 per cent within the first hour of trading before it pared losses to close down 1.67 per cent yesterday.
PHOTO: AGENCE FRANCE-PRESSE
It was a Friday the 13th horror show for regional markets yesterday as panicked investors sold down after Wall Street crashed on Thursday, only to pile back in on hopes of a US stimulus package.
The wild roller-coaster ride across Asia was triggered by the rout in the United States when the nation's longest bull run came to a shuddering halt with all three major indexes in bear territory - down at least 20 per cent from recent highs.
