With nerves still jittery over the American mortgage crisis, the US Federal Reserve has put seven billion dollars of temporary reserves into the banking system. But there were signs of a steadying on stock markets, with central banks regaining confidence. The Dow Jones index, for instance, fell in early trading but later picked up.
And financial expert Nick Edwards advised against too much doom and gloom.
“Overall stock markets have not fallen dramaticall from their highs,” he said.
“Yes, they have erased a large part of the gains they have had so far this year in Europe but they are still up for the year in the US just about, so it could conceivably get worse.
“But economic fundamentals remain very strong and company balance sheets on the whole are firm too”.
Europe had a mixed picture today. The Frankfurt DAX index closed up while London’s FTSE, the Paris CAC and the Milan Mibtel all ended the day down.