Investors take a breather from share sell-off
The share market slide took a break yesterday after twelve consecutive days of falls, the longest sell-off in the last 26 years. Following the US Federal Reserve's announcement that it would slash interest rates by 75 basis points to 3.5 per cent markets around the world showed signs of recovery. The local S&P/ASX 200 Index was up 4.35 per cent to 5412.3 points while the Hong Kong Hang Seng Index put on 10.7 per cent. However analysts warn that it is too early to say that the slump is over with more bad retail sales and housing figures expected out of the US.
By Sydney Morning Herald