Britain and Europe
Equities continued to sag on poor earnings, employment cutbacks and disappointing economic data at home and abroad. Technology, media and telecommunications stocks fell as communications equipment orders and personal computer sales suggested that third quarter 2001 technology earnings could disappoint investors. The CAC and DAX were particularly hurt by the gloomy view of the U.S. economy in the Fed's Beige Book. These factors, combined with low volume weighed heavily on investors not on vacation and the FTSE, DAX and CAC turned in negative performances for the week. Trading continues to be influenced by U.S. equities markets' behavior in addition to the increasing burdens of softening domestic economic news.

Asia
Asian equities continue to suffer from weakening technology stocks and chip over supply, which puts pressure on prices and profits. Japanese investors were concerned that a stronger yen and a slowing U.S. economy will curb their overseas income. A stronger yen negatively impacts earnings when they are repatriated to Japan. All five indexes tracked here were down on the week. The Nikkei and Hang Seng were hammered the hardest in thin trading as investors continued to sell high technology issues with little positive news to trigger rebounds. This was especially true in the aftermath of the Fed's Beige Book release.

Introduction   •   Global Stock Market Indexes   •   Recap of Global Markets   •   Currencies   •  Indicator Scoreboard

The Bottom Line   •   Looking Ahead