World and emerging stocks hit lowest since Sept 2009

LONDON (BestGrowthStock) – Global and emerging stock markets fell sharply on Tuesday, hitting their lowest levels since Sept 2009 on worries over the euro zone banking sector and talk of war on the Korean peninsula.

Stocks extended losses made on Monday, a holiday in many European countries, following the central bank takeover of a small Spanish lender at the weekend.

South Korean stocks fell on a report that North Korea’s leader Kim Jong-il had told his military it may have to go to war.

The MSCI world index (.MIWD00000PUS: ) dropped 1.6 percent to its lowest since early Sept 2009.

The emerging equity index (.MSCIEF: ) plunged more than 3 percent, also to 8-1/2 month lows.

South African stocks were down 2.7 percent (.JTOPI: ) while Moscow (.IRTS: ) fell 3.5 percent. Stock markets in China (.SSEC: ) and India (.BSESN: ) were down almost two percent each.

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(Reporting by Carolyn Cohn and Sujata Rao)

World and emerging stocks hit lowest since Sept 2009