Markets plunge
08-01-2009
A fresh wave of profit warnings and job cuts has hit regional markets wiping out gains recorded in the new year. Sentiment turned sour overnight after an employment report suggested U.S. job losses in December could be the worst in almost 60 years. The Hang Seng Index slumped 3.8 percent, or 571-points, to 14,415. Lenovo fell 26 percent on an announcement that it would cut 2,500 jobs. Bank of China fell 8.4 percent on news that strategic shareholders were selling its stock.
