Dubai Fallout Sends Stock Markets Lower International stock markets are down Friday. Asian stock markets plummeted nearly 5 percent as fears mount over the fallout from Dubai's massive debt problems. Investors have cut back their riskier bets on equities and commodities.

Dubai Fallout Sends Stock Markets Lower

Dubai Fallout Sends Stock Markets Lower

  • Download
  • <iframe src="https://www.npr.org/player/embed/120883825/120883806" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

International stock markets are down Friday. Asian stock markets plummeted nearly 5 percent as fears mount over the fallout from Dubai's massive debt problems. Investors have cut back their riskier bets on equities and commodities.

STEVE INSKEEP, Host:

NPR's business news starts with the slide in world markets today.

(SOUNDBITE OF MUSIC)

INSKEEP: Major Asian stock indexes were down much more sharply. In Hong Kong and South Korea, they were off nearly 5 percent. European stocks took a big hit before appearing to stabilize. Investors are concerned that banks may not be repaid for big loans they made to Dubai.

Copyright © 2009 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.