Global stocks retreat
Posted by admin . Published on 28 April 2009, Received
The global stock markets crashed today due to reports of weak financial status of the top US banks , namely, Citi Group and Bank of America. Reports say that these two banks need massive new capital infusion in the coming months in order to stay healthy.
This has not been welcomed by the market well. Also reports of the Swine Flu spreading fast across the world added to the selling pressure. The markets have been moving up sharply in the last few weeks due to lack of any major negative news. Analysts say that the current rally might end anytime, because the global recovery is nowhere in sight.
