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Stock market collapse: Global economy shaking
Thursday, 4 August was a black day on world stock exchanges. In New York, the Dow Jones index fell by 4.3 per cent and the Nasdaq index closed down 5.3 per cent "and all the gains that have occurred since year end were deleted to zero" (as the financial website E24 said, 5 August). "It was an outright massacre," said John Richard, head of strategy at RBS Global Banking & Markets, to the Wall Street Journal about yesterday’s events.